Two large mainland SOEs test Hong Kong IPO appetite this week

Two large state-owned enterprises are swooping on the Hong Kong market with their long-awaited IPOs almost simultaneously this week, and the prospect of two large offerings is likely to cast a pall over the city’s stock market.

The decisions by Sinopec Engineering and China Galaxy Securities to launch their roadshows separately came after the two large SOEs, tightly controlled by the Chinese government, both managed to secure strong support from some key cornerstone investors.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1231297/two-large-mainland-soes-test-hong-kong-ipo-appetite