From chips to noodles: the newcomers testing Hong Kong’s buoyant IPO market
A wave of billion-dollar offerings is building behind four new listings this week, signalling sustained momentum in Hong Kong’s IPO market
Among this week’s newcomers, chip materials supplier Guangdong Tianyu Semiconductor plans to raise the highest sum, seeking up to HK$1.74 billion (US$223.42 million) from the sale of 30.07 million shares.
The shares have been priced at HK$58 each. Ten per cent of the offer is earmarked for the public, with the remaining 90 per cent going to the international tranche.
Meanwhile, Chinese noodle restaurant chain operator Guangzhou Xiao Noodles is aiming to raise up to HK$685.45 million, while massage services provider Lemo Services is targeting HK$222.22 million.
Anhui Jinyan Kaolin, a kaolin miner and seller supplying the industrial-grade white clay for manufacturing, has sought HK$177.39 million, according to exchange filings.
Tianyu and Guangzhou Xiao Noodles will debut on December 5, while Lemo Services and Anhui Jinyan Kaolin were due to start trading on December 3. All four were primary listings.