New listings on Hong Kong exchange set to slump 66% in Q3 from a year earlier

 

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New listing on the Hong Kong stock exchange are set to slump 66% this quarter from a year earlier to only 10 IPOs.

China’s Tuhu Car is the latest applicant looking to raise HK$1.26 billion. The Tencent-backed car services platform opens the retail book for its IPO on Thursday and it will price its offering between HK$28 and HK$31 and its trading will start on September 26.

Wuhan YZY Biopharma and LC Logistics opened the retail books on Wednesday and will be listed on September 25. The biotech plans to raise up to HK$220 million with a price range of HK$16 – HK$20 per share. LC Logistics, offering cross-border shipping services, is aiming for as much as HK$158 million with a price range of HK$4.45 – HK$5.55 per share. 

The bourse will see only four new listings in September. Together with six IPOs in July and none in August, The exchange is likely to end this quarter with just 10 new listings, compared to 29 a year ago.