Hong Kong’s IPO Market Making a Comeback: Baker McKenzie’s Wong

The transcript discusses the recovery of the Hong Kong market post-COVID-19, highlighting increased investor activity and fundraising. It explores the shift to virtual financial activities, such as roadshows and listing ceremonies, due to pandemic restrictions. The discussion also covers the geopolitical factors influencing Chinese companies' IPOs, including changes in NASDAQ rules and the potential for secondary listings in Hong Kong and other Asian markets.

What was the market response to Netease's retail subscription offering?

• It was not well-received.

• It was exactly on target.

• It was 360 times covered.

• It was under-subscribed.

What was a significant change in fundraising activities in May?

• They remained the same as April.

• They resumed and outperformed January numbers.

• They decreased by 50%.

• They were halted completely.

How did companies adapt to the challenges of conducting roadshows during the pandemic?

• They canceled them entirely.

• They conducted them virtually.

• They conducted them in small groups.

• They postponed all roadshows.

What is a major challenge for companies that have not started their listing application work?

• High listing fees.

• Lack of investor interest.

• Timetable delays due to travel restrictions.

• Excessive competition.

What financial issue do companies face if they miss their listing window?

• They need to update their financials.

• They lose their listing fee.

• They have to reapply for listing.

• They face legal penalties.

What geopolitical factor is influencing Chinese companies to consider listing in Hong Kong?

• Lower listing fees in Hong Kong.

• Better weather conditions.

• Increased taxes in China.

• Changes in NASDAQ rules.

Which markets are potential beneficiaries of Chinese companies seeking secondary listings?

• African markets.

• Asian markets like Singapore and Taiwan.

• European markets.

• North American markets.