Wall Street Journal
The Hong Kong stock exchange, once one of the world’s top venues for IPOs, hasn’t been on the shopping lists of foreign companies for a long time. But a listing plan by a Russian ecommerce retailer could put it back in the fray.
Once a market that drew foreign companies from Italian fashion house Prada SpA in 2011 to Russian commodity firms seeking to play up their popularity among spend-thrift Chinese consumers, Hong Kong hasn’t seen a major non-Chinese company listing for at least three years.
Some Japanese firms, such as Fast Retailing Co., operator of the Uniqlo casual-clothing store, and e-commerce services provider econtext Asia Ltd. have listed in the past couple of years, but they haven’t raised much funds, or in Fast Retailing’s secondary listing, none at all.