Asia ignites global IPO boom
New issues can be promising, but carry unique risks
Nov. 14, 2004
Newly listed stocks often carry high expectations, but nowhere is a
worldwide surge of initial public offerings generating more interest than in
Asia.
"Japan and China are clearly going to be the two major players" in the
global IPO arena, said Tracy Lefteroff, global managing partner of private
equity and venture capital at PricewaterhouseCoopers.
No less than 26 companies are set to issue stock in Tokyo this month - the
most activity since 30 firms debuted in December 2001. Popular offerings
include memory chip maker Elpida Memory (JP:6665) and oil-developer Inpex
(JP:1604), which are expected to begin trading in Tokyo on Nov. 15 and Nov.
17, respectively.
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