Beijing Enterprises IPO: Morgan Stanley, Peregrine
One of the most astonishing deals of the year. The offering of red-chip company Beijing Enterprises came in the frenetic lead-up to the Hong Kong handover. Demand for shares was so strong that application forms were changing hands for HK$100, and the issue closed a staggering 1,276 times oversubscribed. Demand also caused problems for the money supply of the territory: up to HK$200 billion ($26 billion) became tied up in the Hong Kong banking system.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
