港交所IPO排名或将升至全球第二
Hong Kong is gearing up for an end-of-year listings push with two big initiAl public offerings that could vault the city’s exchange into second place globally this year from fourth.
香港正在全力以赴准备年底的两起大规模首次公开募股(IPO)。这两起IPO可能会使香港交易所(HKEx)今年在全球IPO市场上的排名从去年的第四位升至第二位。The listings would leave Hong Kong trailing New York, but ahead of London and Nasdaq.
尽管这两起IPO不会改变港交所远远落后于纽约证交所(New York Stock Exchange)的现实，却会使它的排名超过伦敦证交所(London Stock Exchange)和纳斯达克(Nasdaq)。
Last week CGN Power, China’s biggest nuclear operator, filed its IPO prospectus in Hong Kong, joining a queue that includes the country’s biggest commercial property developer, Dalian Wanda Commercial Properties.
就在上周，中国最大的核电运营商中广核电力(CGN Power)在香港提交了IPO招股说明书，加入包括中国最大商业地产开发商大连万达商业地产股份有限公司(Dalian Wanda Commercial Properties)在内的IPO行列。
CGN is looking to raise up to US$3bn while Wanda is seeking between $3bn and $5bn which, at the top of that range, would make it the city’s biggest offering in three years.
中广核希望筹资30亿美元，而万达则谋求筹集30亿美元到50亿美元。若万达筹得50亿美元，将是香港三年来最大规模的上市交易。Globally, the top 10 exchanges have raised $215bn this year – half as much again as they managed at this point last year. Hong Kong’s late deal surge comes as investor nerves appear to have steadied following the global market turmoil in October.
从全球范围来说，今年排名前10位的交易所已筹集的资金为2150亿美元，又是去年同期筹得资金的一半。而在香港出现姗姗来迟的交易大增之际，在经历了今年10月的全球市场动荡之后，投资者情绪似乎已趋于稳定。Nicholas Johnson, head of Asia-Pacific equity capital markets at JPMorgan, said: “We’ve seen a reasonable recovery in the US, making it easier to believe October was a correction and not something more sinister.”
摩根大通(JPMorgan)亚太股权资本市场主管尼古拉斯•约翰逊(Nicholas Johnson)表示：“我们看到美国股市已出现理性反弹。这更容易让人认为，10月只是一次调整，而不是某种更凶险的兆头。”Companies have raised $17.7bn in Hong Kong this year, according to Dealogic, while Nasdaq and the London Stock Exchange have attracted $21bn apiece in new listings. All, however, trail the New York Stock Exchange with $65bn to its credit, including the record-breaking $25bn raised by Alibaba, the Chinese ecommerce giant, last month.
根据Dealogic的数据，各家IPO的公司今年在香港已筹集177亿美元，与此同时纳斯达克和伦敦证交所则分别筹集了210亿美元的IPO资金。不过，它们都远远逊于纽约证交所650亿美元的筹资规模，其中包括9月中国电子商务巨头阿里巴巴(Alibaba) 250亿美元的创纪录IPO。Hong Kong market participants believe the biggest deals pencilled in for the next two months can get done if companies are prepared to accept moderate valuations.
香港市场的参与者相信，只要相关公司做好接受适度估值的准备，上述两项定于未来2个月内进行的大型IPO是很有可能完成的。Damien Brosnan, head of Asia equity syndicate at UBS, said: “The market isn’t bullish exactly but it is constructive.” Other people suggested that the bigger IPOs stood a better chance of going ahead because their sheer size meant fund managers would have to look carefully at each whereas they can simply shun far smaller offerings.
瑞银(UBS)亚洲权益辛迪加主管达明•布罗斯南(Damien Brosnan)表示：“目前市场并不是严格意义上的牛市，不过形势颇为有利。”其他人则暗示，较大规模的IPO成功的可能性更高一些，原因是它们的庞大规模让基金经理人不得不仔细研究审视，同时会干脆不去理会规模小得多的IPO。
