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Tokyo Metro's initial public offering could drive momentum in the Japanese market and attract more companies into the country, analysts said, as China continues to lose steam. In Japan's biggest IPO in six years, Tokyo Metro raised 348.6 billion yen ($2.3 billion) after pricing its shares at 1,200 yen apiece, according to the company's regulatory filing on Tuesday. "I think both the Tokyo government as well as the Ministry of Finance, obviously, won't want the IPO to fail." Hyundai India also started taking orders for its $3.3 billion IPO in Mumbai this week, in a deal set to become the country's biggest listing. When asked if he thinks Tokyo Metro and Hyundai India's listings will open the floodgates for more activity, he said, "I do."
Persons: Mio Kato, CNBC's, Kato, Dealogic, Ringo Choi, Choi, — CNBC's Dylan Butts Organizations: Tokyo Metro, Japan's, Reuters, Tokyo Stock Exchange, LightStream, Ministry of Finance, NASDAQ, Hyundai, EY's Locations: Tokyo, China, Asia, Pacific, India, Japan, Hyundai India, Mumbai, EY's Asia
EY discusses Hyundai Motor India, Tokyo Metro IPOs
  + stars: | 2024-10-15 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEY discusses Hyundai Motor India, Tokyo Metro IPOsRingo Choi, Asia-Pacific IPO leader at the accounting company, shares his outlook for initial public offerings in the region.
Persons: EY, Ringo Choi Organizations: Hyundai Motor, Tokyo Metro Locations: Hyundai Motor India, Tokyo, Asia, Pacific
EY's Choi: China consumer sector a favorite for PE and VC firms
  + stars: | 2024-09-17 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEY's Choi: China consumer sector a favorite for PE and VC firmsRingo Choi, Asia Pacific IPO lasiaeader at EY, discusses Midea's secondary listing in Hong Kong and the opportunities in China's consumer sector.
Persons: EY's Choi, Ringo Choi Locations: China, Asia Pacific, EY, Hong Kong
Hong Kong Street Scene, Mongkok District with busses Nikada | E+ | Getty ImagesHong Kong's initial public listing market remains in a slump, even as analysts predicted a market rebound in the second half of the year. "The Hong Kong market has not recovered as much as we would like," Irene Chu, partner at KPMG China, told CNBC. In the first three quarters of the year, the Hong Kong IPO market concluded 44 listings, and raised 24.6 billion Hong Kong dollars ($3.14 billion), according to KPMG. Hong Kong's stock market was among the worst performing last year, shedding 15% in 2022 for its third-straight year of declines. "The Hong Kong stock market remained weak in Q3 2023, as did stock valuations, because of macroeconomic developments, in particular around U.S. interest rate hikes.
Persons: Irene Chu, Hong, Ringo Choi, EY, Zhejiang Leapmotor, Arun George, It's, Chu Organizations: Hong, KPMG China, CNBC, Hong Kong, KPMG, Hang Seng, J, T Express, Reuters, Deloitte, Hong Kong's, ZJLD, Onewo, Global Equity Research, International Monetary Fund Locations: Hong, Mongkok District, Hong Kong, Ringo Choi Asia, Pacific, Asia, Indonesian, Zhejiang, China, Shanghai, Shenzhen, KPMG China,
The logistics service provider traded at 11.84 Hong Kong dollars ($1.51) on Friday morning, after opening at HK$12. The HK$3.92 billion ($500 million) IPO is the second largest listing in Hong Kong this year, after premium Chinese liquor company ZJLD Group . J&T Express is listing in an uncertain economic environment, characterized by hiking inflation, high interest rates and ongoing conflict such as the Israel-Hamas war and Ukraine invasion. Hong Kong's global IPO ranking dropped to eighth following a historically slow third quarter," said KPMG in a report published on Oct. 9. "The IPO pricing is dropping significantly by more than 50% or even 70%."
Persons: Irene Chu, Ringo Choi Organizations: T Express, Hong, HK, ZJLD Group, KKR, SF Express, Temasek, T, KPMG, KPMG China, CNBC, Reuters . Companies Locations: Hong Kong, U.S, Sequoia, Israel, Ukraine, Asia, Pacific
Big deals are coming in the IPO market, says EY
  + stars: | 2023-09-19 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig deals are coming in the IPO market, says EYRingo Choi, Asia Pacific IPO leader at EY, discusses Arm's recent initial public offering and what to expect from Instacart's.
Persons: EY Ringo Choi Locations: Asia Pacific
Hong Kong's largest IPO so far this year flopped last week suggesting the market still needs time to rebound, despite positive signs pointing to a recovery. "The sentiment in the IPO markets has not built up yet," Ringo Choi, Asia-Pacific IPO leader at EY, told CNBC. We still need some time," said Robert Lui, Hong Kong offering leader of Deloitte China's Capital Market Services Group. Hong Kong's stock market was among the worst-performing last year, shedding 15% in 2022 for its third-straight year of declines. Chinese companies tend to launch secondary listings in Hong Kong as another venue to access investors and capital.
“Through just one quarter of 2023, it was more of the same for the stuttering global IPO market,” the firm said in a statement Thursday. In Mainland China, for example, there are some “800 companies in the pipeline,” according to Choi, citing public filings. Choi predicted the global market would recover in the second half of 2023, in part because he believed it had already hit the bottom. “Once there is evidence of a more stable market with higher certainty, investor confidence should return,” EY said in its statement. The firm indicated that “prominent companies that had postponed IPO plans may restart, albeit at more modest valuations.”
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