Hong Kong IPO 1,500 Times Oversubscribed in Retail Frenzy
PwC's Wong Sees 150 IPOs in Hong Kong This Year
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Investors are still flocking to initial public offerings in Hong Kong, with a Chinese eye-clinic chain drawing the heaviest demand in more than a decade even after some of last year’s hot deals fell below their offer prices.
Individual buyers placed orders for at least 1,557 times the stock initially set aside for them in the sale of C-Mer Eye Care Holdings Ltd., said people with knowledge of the matter, who asked not to be identified because the information is private. That’s the highest retail participation in 11 years for Hong Kong IPOs worth at least $50 million, data compiled by Bloomberg show.