Breakingviews

IPO flops will come back to haunt Li Ka-shing

February 5, 2014

The tycoon’s HK Electric utility is trading 5 pct below its offer price and is the third spinoff in a row to lose money for investors. Li’s reputation as a canny trader is well deserved. But that will make it harder to get a premium valuation for his retail business, A.S. Watson.

Hong Kong’s LME bid is big bet on China flows

May 10, 2012

Hong Kong’s bourse has joined the bidding for the London Metal Exchange. If it can attract more volume from China, that would make up for the lack of obvious cost savings. But Beijing may open up anyway. HK’s lack of metals expertise makes the move look ambitious.

HK exchange can’t count on China IPOs forever

March 4, 2010

The Hong Kong Stock Exchange is the world's second biggest exchange, measured by its own market capitalisation. Call it the China factor. Yet as the mainland's own exchanges get bigger, Hong Kong can't count on winning prize listings forever. It's time for a plan B.