Hong Kong was suggested to enrich its IPO platform to attract capital from more good quality companies from overseas, a local financial advisory body said on Wednesday.
Hong Kong is likely to end this year as the world's second-largest market for initial public offerings after New York.Investment bankers say that several recent IPOs in Hong Kong particularly Guangdong-based nuclear operator CGN Power and Dalian Wanda Commercial Properties??were oversubscribed many times, showing strong global demand.
"This is just a suggestion by the CSRC in response to questions raised by the market. This is neither mandatory nor does it mean the IPO application window is shut down," said Zhang Xiaojun, spokesman of CSRC.
Hong Kong's IPO market is seeing a revival. Bad-debt manager China Cinda Asset Management Co Ltd will soon lose its title as Hong Kong's biggest IPO this year, which it grabbed days ago, to China Everbright Bank Co Ltd, which launched a $2.8 billion offering on Tuesday.
