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Large China firms line up to list in Hong Kong

Several large Chinese firms are lining up for initial public offerings in Hong Kong in the second half of 2022. These include battery materials producer Tianqi Lithium Corp, which just opened its books for what is set to be the city’s first billion-dollar listing this year. China Tourism Group Duty Free Corp may relaunch an offering of around USD2bn. These mid- to large-sized deals are poised to revive a dormant market where firms raised a paltry USD2.6bn in the first six months. In the first half, Hong Kong saw only one IPO that was larger than USD500m. Charles Zhou, an analyst at Credit Suisse Group AG, noted that better clarity on rules for Chinese share offerings abroad could “encourage more new listings” in Hong Kong.

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