Asia is expecting a strong pick-up in market listings in the second half of this year thanks to a steady flow of flotations in Hong Kong and amid growing expectations that Beijing could soon allow domestic listings for the first time in almost a year.
China Minsheng Banking Corp, a Shanghai-listed lender, said late on Friday that it planned to sell as much as 15 per cent of its enlarged share capital on the Hong Kong stock exchange and that it could issue more shares if there was demand.
Meanwhile, AIG is in the process of selecting banks to advise on a possible Hong Kong listing of the US insurer's prized Asian unit, American International Insurance, potentially raising upwards of $5bn.