The Corliss Group: Performance of China's Hong Kong Shares Has Been a Long-Term Letdown
rodmanprotege
Jul 6, 2013 6:48:57 AM
the corliss group
When Tsingtao Brewery Co. went public in Hong Kong in July 1993, runaway investor demand for the beer maker's new shares lifted them 29% on their first trading day.
Since then, nearly 600 other big Chinese companies have raised a total of about $250 billion through initial public offerings in Hong Kong, according to Dealogic.
IPOs by banks, real-estate developers and other firms opened the door for foreign investors eager to bet on China's booming economy—and vaulted Hong Kong into a big-time rival to New York and London in the global battle for new stock listings.