Chinese dominating the region’s IPO markets
(China) - Chinese firms are expected by many market analysts to dominate Asia's equity markets in the second half of 2002 with some US$6 billion of new shares being sold within a 7 percent targeted economic growth for the economy as a whole.
The Bank of China (BOC) is chasing at least US$2 billion in its planned Hong Kong listing sometime in the 3rd quarter of the year. China Telecom is being split into two carriers after preparing for an IPO for almost two years, with the "Southern Carrier" looking at a listing valued at US$3-US$5 billion late 2002 / early 2003.
Taiwan issued US$2.2 billion in Asian equities during the 1st quarter of the year - out of a total US$4.7 billion sold throughout the region.
Beijing is planning new IPO allocation regulations to encourage longer-term holders of new issues and disadvantage short-term investors looking for sudden profits by chasing and selling newly issued stocks.
Taiwan issued US$2.2 billion in Asian equities during the 1st quarter of the year - out of a total US$4.7 billion sold throughout the region.
Beijing is planning new IPO allocation regulations to encourage longer-term holders of new issues and disadvantage short-term investors looking for sudden profits by chasing and selling newly issued stocks.
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