Who says only manufacturers can make IPOs in Hong Kong to complement their current listings on China’s domestic A-share markets in Shanghai and Shenzhen?
Such dual listings have become some of Hong Kong’s biggest IPOs this year, led by names like electric vehicle battery (EV) giant CATL, which raised $35.3 billion ($4.5 billion) in May, and top condiment maker Haitian, which raised HK$10.1 billion in June. But now, leading marketing services provider BlueFocus Intelligent Communications Group Co. Ltd. (300058.SZ) is aiming to break that monopoly with its own planned Hong Kong IPO.
BlueFocus is one of China’s oldest providers of marketing services, set up in 1996. It’s also the world’s 10th biggest provider of such services, making it the lone Chinese company among the global top 10, which includes such powerhouses as WPP (WPP.L) and Omnicom (OMC.US), according to its Hong Kong listing document.