When might the Chinese authorities lift the ban on domestic IPOs imposed last year to accelerate reforms and stabilise a weak stock market?
With the wonderful benefit of hindsight, it wasn’t surprising that predictions that the October suspension might be lifted in March proved wrong. After all, Beijing was in the throes of its leadership change.
But now that the new team is in place, there are signs that officials are preparing the ground for a resumption – albeit with tougher regulatory standards for issuers and sponsors alike. Continue reading »
Last week’s HK$24bn ($3bn) placement for China Petroleum & Chemical Corp, better known as Sinopec, was a striking deal for its sheer size. But perhaps it was most remarkable for the fact that it involved only one bookrunner.
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