Cash-hungry firms drive up pace of IPO listings in Asia
But valuations are cheaper and expected to stay low into 2016 as new reality of slower growth in China sets in
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Hong Kong
AS the world takes in life with a slowing Chinese economy, business is brisk for one group - Asia's bankers, handling a burst of stock listings by mainland firms that need funds now and are resigned to their shares being worth less than before.
Although initial public offering (IPO) valuations may be cheaper, the pace of deals is accelerating. A Reuters review of upcoming deals showed an estimated US$17 billion for IPOs due for the last two months of the year in Asia, with a near-doubling of Hong Kong deals after China growth jitters cast a third-quarter pall.
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