In the Capital Connectors series, exclusive interviews with six influential Chinese and global bankers reveal the opportunities and challenges for Hong Kong in its evolution as an international financial hub.
When Thai coconut water brand IFBH raised HK$1.16 billion (US$149 million) through a stock offering in Hong Kong in June, Li Chunbo, chairman and CEO of the deal’s sole sponsor Citic Securities International, saw it as more than just another listing from Southeast Asia.
The world’s second-largest producer of coconut water had abandoned its original Singapore listing plan before turning to Hong Kong, where its initial public offering (IPO) ended up more than 2,682 times oversubscribed. The deal marked a pivotal moment in the city’s quest to redefine its role as a global financial hub and an essential financial bridge for the entire Asia-Pacific region.
“Hong Kong should not just be the connector between mainland China and the world, but between the Asia-Pacific region and the world,” Li said in an exclusive interview. “The city is on track to establish itself as Asia’s financing hub, attracting listings from and raising capital for top-tier companies across India, Southeast Asia and developed markets like Japan and Singapore.”
Hong Kong’s deep fundraising pool, high degree of capital freedom and unique advantages under the “one country, two systems” principle provided a unique platform for connecting Chinese and Asian companies with global markets, he said.
His remarks come as mainland capital is flooding into the city amid US-China decoupling. Last year, external direct investment to Hong Kong from the mainland exceeded 1 trillion yuan (US$140 billion).
Media365
