Chinese government entities remain a pillar of Hong Kong IPOs, but foreign investors have not lost interest

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Local government entities in China still played a significant role in Hong Kong’s IPOs in the second quarter, but foreign buyers may be making a comeback amid improved market sentiment.

Provincial and municipal governments, councils and investment vehicles owned by local authorities took part in a third of the 18 IPO deals in the second quarter as cornerstone investors with lock-up conditions, according to data compiled by the Post.

Tianju Dihe (Suzhou) Technology, a provider of application programming interface services that raised HK$401.5 million (US$51 million), received HK$172 million, or 43 per cent of the offered shares, from entities ultimately owned by Suzhou Industrial Park Administrative Committee, and Xuzhou Economic and Technology Development Zone Management Committee.

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Article Details

Author / Journalist: Aileen Chuang

Category: Business

Markets: Hong KongChina

Topics: Cent Kong Entities Investors Local Hong Foreign Government Stock Market Shares

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-02 @ 07:30:08 (4 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 760 words

Reading Time: 5 minutes read

Sentences: 22 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21451349

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