
Jeweler Chow Tai Fook to list largest IPO this year
This US$3.5b IPO will be Asia's second largest IPO after Hutchison port.
According to Thomson Reuters, Hong Kong jeweler Chow Tai Fook announced plans of its IPO of up to US$3.5 billion which when listed, would be Asia’s second largest IPO this year after Hutchison Port and the largest IPO in Hong Kong this year.
The value of Hong Kong-listed IPOs has declined by 65% year over year from last year’s US$47.4 billion to the current tally of US$16.7 billion. The current plight of investment banks is also reflected by the amount of imputed fees pool that has declined 67% for Hong Kong listed IPOs compared to the same time in 2010.