A cemetery is one place most people would not choose to queue for. Except in Hong Kong, where the resurgent market for new equity listings is prompting some unusual behavior.
The $200 million deal from Fu Shou Yuan, a mainland-based chain of burial grounds, is attracting fevered early interest from investors keen to tap the spending power of wealthy Chinese, even in the afterlife.
In spite of missing out – at least for now – on the blockbuster listing of Alibaba, Hong Kong’s market for initial public offerings has sprung back to life. After a nervous few months, deal flow has picked up, guaranteeing that 2013 will better last year’s moribund haul. In the year to date, $12 billion has been raised in the city, beating last year’s total of $11.4 billion, according to Dealogic.
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