The Banking and Strategy Initiative

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Tesco Lotus’ Thai Chain of Malls go for HongKong IPO

English: Female clerk doing inventory work usi...

Image via Wikipedia

With the Year of the Dragon celebrations done, the Hongkong IPO market moves into high gear with an offering from Xiwang Steel, which is raising $217 mln locally and a bigger IPO from Canadian Oilsands company, Sunshine Oilsands, whose offering gets closer to a Big number at 5 bln Yuan or $600 mln

(All deal data from Finance Asia)

The Oilsands IP O already has firmed up offers from institutions in its pre marketing drive with the China Investment Corporation putting down $150 mln

The Tesco business, plans to use anchor Tesco Lotus Grocery stores/Hypermarket in 15 new malls across Thailand. Tesco Lotus already operates in 800 Thai locations and the 15 new malls will belong to a new Thai Property Fund floated for the purpose with Tesco Lotus paying the lease to the fund

The hongkong IPO is likely to take a moth from the roadshows opening in two weeks, listing completed by Mid March and Pricing midway near March 5. Goldman Sachs and JP Morgan have also been investing in setting up proprietary REITs in Asia in China with local governments and around the South China Se a or in the north in the neighbourhood of more than a couple of $ bln.

Thai GDP though affected by Political instability is still above $600 bln with 45% of the country urbanised and40% of the GDP still agrarian produce, still relies on Japanese Capital imports, though Chinese goods count and produces 400,000 bpd of oil at home with a $40 bln yearly trade surplus and Tourism it s main industry followed by its export friendly successful textile and garments sector. Its FDI figures inwaard and outward at $115 bln and $30 bln, like the other GDP data put it in the same neighbourhood as Indonesia with Industrial production in this Buddhist nation last grown at 5% and only 38% Services sector signalling the difference in exports from its neighbour.



English: A large Teco-Lotus superstore in Sako...

Image via Wikipedia

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