, Columnist
Are Hong Kong IPO Bankers Gatekeepers, or Glorified Porters?
A burst of IPOs in Hong Kong is raising eyebrows.
Photographer: Tommy Wang/AFP/Getty Images
As Hong Kong’s public listings boom heats up, investors and regulators are asking whether the city’s investment bankers know what they are doing — or even worse, bother with gatekeeping at all. Some might be no more than well-paid concierge services that wave every passersby through.
Companies are rushing in to capture Hong Kong’s stock rally. Nearly 100 firms filed for public listings in January, more than triple the number recorded a year earlier. Currently, more than 400 firms are waiting in the pipeline for approval.