Hong Kong listings have picked up pace with almost $10bn raised from initial public offerings over the past two months despite a deepening political crisis that has gripped the Asian financial hub for more than five months.
Recent listings included a revived $5bn IPO by brewer Anheuser-Busch InBev’s Asia-Pacific unit; a $1.1bn fundraising from Topsports International, China’s biggest sportswear group; and a $1.6bn listing by Asia-focused logistics company ESR Cayman.
Both the AB InBev and ESR deals were second attempts after plans earlier in the year were aborted, and have helped to revive the flow of deals that nearly evaporated during a rough patch for Hong Kong’s stock market.