Five companies have announced plans to launch initial public offerings (IPOs) in Hong Kong this month as investor interest improves, South China Morning Post reported. State-owned People’s Insurance plans to start pre-marketing of its Hong Kong share listing on Thursday to test investor interest and could begin trading as early as December 7, an unnamed source said. The insurer aims to raise approximately US$3 billion, which could be the city’s largest IPO this year. Two property developers, Future Land Development and CIFI, plan to raise US$250 million each. Hong Kong restaurant chain operator Tsui Wah, after several delays, intends to raise US$100 million through the IPO; its shares will begin trading on November 26. Bedding retailer Casablanca expects to earn net proceeds of US$13 million, which it will use for expansion on the mainland.
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