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Beijing Entreprises: Initial Public Offering  
 
Product Ref: 98/16C Company: Beijing Enterprises

Product Type: Case Industry: Conglomerates
Public Policy & Strategy

Related Product(s): Teaching Note
Authors: Ko Wang   Su Han Chan   Probir Banerjee
In May 1997, Beijing Enterprises Holdings Ltd., a Mainland Chinese company, decided to raise funds through an initial public offering (IPO) for the expansion of several of its subsidiaries. It planned to list the new shares on the Hong Kong Stock Exchange and thereby join the select band of China-affiliated or Red Chip companies currently trading on the Exchange. Red Chip companies had had a record of major successes in raising funds through IPOs, the latest case being GZI Transport, a Guangzhou based Red Chip, which had its IPO oversubscribed 528.48 times. The case investigates the reasons for the ravenous investor appetite for Red Chip shares and the intricacies involved in pricing IPOs of Red Chip firms.
Functional Area : Finance & Investments

Issues: IPO Valuation, Red Chips, H Shares
Length: Text: 8 pages
Exhibits: 10 pages
Country: Hong Kong SAR

Pub. Year: 1999 Level of Difficulty: 2
         
This product type is available in the following language(s):      English
         
Related Information: N/A
 
This case is UGC funded.
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