U.S. listings were in focus this week as well. It started with an article, reported by Bloomberg, saying that China was looking to close loophole used by tech firms for foreign IPOs. It was swiftly dispelled by CSRC. Then on Thursday, 2nd December, SEC issued the final amendments for implementation of HFCAA. We look at the details and potential trades coming out of this new update.
In India, Star Health (7584769Z IN)'s IPO failed to garner enough demand even after getting an extension of the bookbuild period. The company has since then cut the size of its IPO to ensure the deal gets done. RateGain's launched its IPO and it will open its anchor books for a day on 6th December and the IPO bookbuild is scheduled to be from 7th to 9th December.
It is also a busy week in the placement space. Siam Makro Public (MAKRO TB) reduced its deal size by more than half to US$1.8bn and fixed the deal price at THB43.50, about 4% discount from Thursday's close price.