More than $3bn worth of Asia IPOs have come to the markets this past week.
3 Asia IPOs raise over $3bn in capital
As a trusted financial platform partner, Dealogic helped bookrunners seamlessly execute three transactions through the DealManager network, including China Literature, Vincom Retail, and Crystal International.
Institutional investors have ordered more than 50 times their allotted shares for China Literature and retail investors have oversubscribed by 620 times, according to the Wall Street Journal. All three IPOs were available on Dealogic Connect, allowing investment firms to send electronic orders directly to banks.
China Literature: Tencent-backed online-publisher
Nationality: China
Industry: Technology
Deal Value ($m): 1,067
Deal Type: IPO
Priced: October 31, 2017
Bookrunners: Morgan Stanley, Bank of America Merrill Lynch, Credit Suisse, JPMorgan, China International Capital Corp, China Securities, China Renaissance Partners, China Merchants Securities, China Merchants Bank, Bank of China, and HSBC
Key Points
- Largest tech IPO on the Hong Kong Stock Exchange since the $1.7bn listing of Alibaba.com in October 2007, and the bourse’s third largest on record
- The number of technology IPOs worldwide has surged to a 16-year high, with a total of 231 offerings from the sector this year (288 in 2001 YTD). Volume of $27.5bn is more than double the amount raised last year ($12.1bn in 2016 YTD)
- Chinese exchanges have seen the most tech listings this year (including 60 on Shenzhen exchanges and 23 in Shanghai), followed by the US (13 on Nasdaq and 12 on NYSE) and Japan (22). Hong Kong has only seen 11 IPOs from the sector
Top 3 Tech IPOs on the HK Stock Exchange on Record
- Semiconductor Manufacturing International Corp – SMIC, $1,803m | China | March 2004
- Alibaba.com, $1,693m | China | October 2007
- China Literature, $1,067m | China | October 2017
Top 3 Tech IPOs from APAC Issuers in 2017 YTD
- Netmarble Games Corp, $2,336m | South Korea | Korea Exchange-KOSPI | April 2017
- China Literature, $1,067m | China | Hong Kong Stock Exchange | October 2017
- Qudian, $1,035m | China | New York Stock Exchange | October 2017
Vincom Retail JSC: Vietnamese mall operator
Nationality: Vietnam
Industry: Real Estate
Deal Value ($m): 709
Deal Type: IPO
Priced: October 26, 2017
Bookrunners: Citi, Credit Suisse, Deutsche Bank, Saigon Securities
Key Points
- Southeast Asia’s largest real estate IPO since Mapletree Greater China Commercial Trust’s $1.4bn offering in 2013
- Southeast Asia IPO volume has seen a rebound this year, reaching a 4-year high of $8.3bn. Deal activity has surged to 100, the most active YTD period since 2005 (126 deals)
Top 3 Real Estate IPOs from Southeast Asian Issuers in 2017 YTD
- Vincom Retail, $709m | Vietnam | October 2017
- Eco World International, $584m | Malaysia | March 2017
- GLAND Office Leasehold REIT, $145m | Thailand | April 2017
Crystal International Group: Hong Kong apparel manufacturer
Nationality: Hong Kong
Industry: Textile
Deal Value ($m): 490
Deal Type: IPO
Priced: October 27, 2017
Bookrunners: Morgan Stanley, HSBC, and Citi
Key Points
- Largest textile IPO from a Hong Kong issuer on record
- Second largest textile IPO to list on the Hong Kong Stock Exchange on record, behind Bosideng International Holdings’ $890m offering in 2007
Top 3 Textile IPOs from Hong Kong Issuers on Record
- Crystal International Group, $490m | Hong Kong | October 2017
- Pacific Textiles Holdings, $282m | Hong Kong | May 2007
- Regina Miracle International (Holdings), $245m | Hong Kong | October 2015
Contact us for underlying data on Asia IPOs, DealManager, or Dealogic Connect.