Companies seek to raise US$3bn in Hong Kong IPOs

Four mainland companies went before the Hong Kong Stock Exchange listing committee on Thursday to outline their plans to raise a combined US$3.15 billion from initial public offerings in October. Property developer Soho China and coat-maker Bosideng are each targeting IPOs worth US$1 billion. China Dong Xing Holdings, the China agent for the sports brand Kappa, and nickel producer Xinjiang Xing Xin Mining hope to raise US$800 million and US$350 million respectively, the South China Morning Post reported. Soho was granted approval to list in early July but the process was delayed as the controlling shareholder injected new assets into the firm, doubling the expected size of the offering. Bosideng, which produces more than half China's brand-name winter coats, is tipped to be a popular listing, as is Xing Xin Mining, on the back of growing Chinese copper and nickel demand.