Hong Kong IPOs Are at Their Hottest Since 2015
Tourists look at the city's skyline from a viewing terrace on Victoria Peak in Hong Kong.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Hong Kong initial public offerings are enjoying their hottest quarter among retail investors in four years.
The median retail subscription ratio for IPOs since the start of October is 13 times, the highest since the second quarter of 2015, data compiled by Bloomberg show. Back then, retail investors put in orders of 180 times the amount on offer, when the market hit a peak. Now, the Hang Seng Index is almost flat for the year.