As reported by Wall Street Journal’s Prudence Ho:
Five companies, including Italian fashion house Prada SpA, are seeking more than $9 billion from Hong Kong investors in the next two weeks, according to people familiar with the situation, suggesting the window for fund raising in the city has reopened after a hiatus following the earthquake in Japan.
Prada received regulatory approval Thursday for its plan to launch a Hong Kong initial public offering that could raise up to $2 billion, a person familiar with the situation said Friday, joining U.S.luggage maker Samsonite Corp., which is seeking to raise $1 billion, to list on the Hong Kong stock exchange in June.
Meanwhile, Huaneng Renewables Corp., which started pre-marketing its relaunched IPO Thursday, plans to raise $988.2 million ahead of listing in Hong Kong on June 10, another person familiar with the situation said Friday.
Other companies seeking to tap funds in Hong Kong in the next few weeks include casino operator MGM China Holdings Ltd., which aims to raise up to $1.5 billion, and Australian mining firm Resourcehouse Ltd., which is raising up to $3.6 billion.