CASE STUDY: Hopewell Highway's Rmb shares debut
Hopewell Highway's offshore renminbi equity issuance should be considered more of a marketing and branding tool than a clear view on the currency. That said, the deal will give treasurers some food for thought.
As the Chinese proverb goes, "the first to taste the crab was the bravest," so did Hopewell Highway Infrastructure which captured a tight window—a short-lived rebound—in the volatile Hong Kong equity market to debut a Rmb375 million shares issuance alongside its existing Hong Kong dollar stocks on November 5.
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