IMAX shares make strong debut in HK

Shares in the Chinese unit of IMAX Corp and the world's biggest manufacturer of bras surged in their Hong Kong trading debuts on Thursday, a sign of reviving market confidence that bodes well for upcoming larger initial public offerings.

After taking a beating in the latest quarter, the Hong Kong IPO market will be tested in the next few weeks as distressed debt manager China Huarong Asset Management Co Ltd and China Reinsurance (Group) pitch offerings worth a combined $5 billion.

The offers had received approval weeks ago but pitches to investors had been delayed after a steep sell-off in Chinese equities this year and turmoil in other global share markets.