Although Asia's capital markets are bubbling, private equity investors in Hong Kong are shunning its prescriptive listing requirements and longer lock-in periods of IPOs.
While there has been a rise in listings generally, with 69 in Hong Kong last year, raising $30.8 billion, private equity-led exits have been rare.
Requirements for listing companies in Hong Kong are more prescriptive than the UK and US. Profitability tests, for example, require companies to show a...