Mainland firms making beeline to HK bourse

More than 10 mainland enterprises are expected to float their businesses in an initial public offering (IPO) in Hong Kong after the economic recovery revived stock trading and boosted companies' capital raising activities.

According to Reuters, as many as 16 companies are going to seek stock listings in Hong Kong, including large mainland-based enterprises, such as Sinopharm Holdings, China Minsheng Banking Corp Ltd and China Pacific Insurance (Group) Co Ltd.

"Many of these companies had intended to go to the Hong Kong bourse, but were disturbed by the financial crisis," said Jack Chow, partner of KPMG Hong Kong. "Now they have begun to revive their listing schedules because the market outlook is not as hazy."