Hong Kong bankers play an anxious waiting game

TUHU Car

26/09/2023 03:54

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Katrina Hamlin
       HONG KONG, Sept 26 (Reuters Breakingviews) - Fewer IPOs
in the city mean firms such as UBS and Bank of America are more
willing to handle middling transactions like Tuhu’s $150 mln
offer. But as big deals stir in New York and beyond, the
downsizing increasingly will look like an awkward stopgap for
Wall Street.
    
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    CONTEXT NEWS
    Shares of Chinese auto-maintenance startup Tuhu Car opened
flat on its first day of trading on Sept. 26. The company priced
its shares at HK$28 each, the bottom of a previously announced
range, to raise HK$1.19 billion ($152 million), according to a
filing on Sept. 25.

 (Editing by Una Galani and Pranav Kiran)
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