When Malaysian civil engineering contractor BBSB International listed in Hong Kong last month, its offering was oversubscribed by a factor of nearly 11,000, and its shares rose more than fivefold from their offer price of HK$0.60 on the morning of their trading debut. BBSB is one of several non-Chinese companies that have flocked to Hong…
Richard Li (left) attends the IPO ceremony of his FWD Group at Exchange Square in Central, Hong Kong. Shanshan Kao/Forbes Asia Hong Kong billionaire Richard Li’s insurer FWD Group saw its shares close flat in the company’s long-awaited Hong Kong stock market debut Monday, marking the culmination of the company’s nearly five years of efforts…
Hong Kong’s stock market stamp duty income is filling the city’s financial coffers at the fastest pace since 2021, amid a bull run on the local bourse that has attracted scores of initial public offerings (IPOs) and fuelled frenzied trading. Duties from transactions and transfers rose to HK$29.69 billion (US$3.78 billion) in the first five…