Target Marine, a Greek shipping firm, is looking to raise US$200-300 million via an initial public offering on the Hong Kong Stock Exchange in the second half of 2011, the Wall Street Journal reported. The tanker and bulk carrier will be the first Greek firm to list on the Hong Kong bourse, and follows a string of European listings in recent months, including Prada (1913.HK) and Glencore (GLEN.LSE, 0805.HK). The Hong Kong exchange has drawn increasing interest in the past year from foreign firms looking to tap the mainland China market, particularly in the mining, luxury goods and transportation sectors. Other foreign IPOs scheduled for the second half of the year include South Korea’s Basic House (084870.SK), Japan’s Baroque, and Canada’s Sunshine Oilsands.
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