向花儿一样开放
commented on a stock · Nov 9, 2022 09:15
$TRIP.COM-S (09961.HK)$ Firstly, many Hong Kong IPO companie...
$TRIP.COM-S (09961.HK)$ Firstly, many Hong Kong IPO companies, especially those in the Bio tech, AI, and SAAS marketing sectors, have seen their valuations in the primary and secondary markets inverted, with the fundraising during IPOs being less than the pre-listing financing. We have found that the Hong Kong Stock Exchange has given full authorization to these companies with a market cap of over 5 billion during the IPO stage. This highlights a major drawback of the Hong Kong Stock Exchange's Chapter 18A listing rules compared to the A-share Sci-tech Innovation Board - the regulatory approval process for well-funded life science IPOs on the Sci-tech Innovation Board has become more rigorous and will not experience the extreme situations like in the Hong Kong stock market. Secondly, many companies have offered high sales commissions during IPOs, successfully transferring the issuing pressure to the sellers and forcing them to hard sell to customers. With the joint efforts of intermediary institutions and major pre-listing financial investors, it takes an average of only six months for Bio tech projects from A1 filing for listing to obtaining listing approval from the Hong Kong Stock Exchange, making Bio tech a high cost-effective project for major intermediary institutions, from sponsors to lawyers. What's more, Bio tech companies, due to their ample funding, generally do not delay payments, which benefits both parties. The only losers are customers who buy bread out of their own pockets in the secondary market. Thirdly, if pre-IPO investors not only have costs higher than the IPO issuance price but also have all their shares locked up, they can be optimistic about the future. Yun Kang Group and Zhong Kang Holdings also meet this criterion.From this, it can be seen that companies that meet the above three criteria may be among the few companies with IPO investment value that can enter investors' field of vision. Investors are advised to stay away from hard sales by brokerages, or even projects that claim to have market cap management arrangements outside the company. $MEITUAN-W (03690.HK)$ $TENCENT (00700.HK)$
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