Chinese Clients: Hong Kong and Deals Amount

chinese clients: Another banker said at least two companies are considering the same move for IPOs worth a combined 1 billion, adding that final decisions will depend on market conditions and whether the turmoil in Hong Kong eases. ; While the deals amount to a small portion of the money raised by Chinese businesses in Hong Kong in recent years, they bode ill for the city's status as one of the world's premier financial hubs, according to The Japan Times. The two senior bankers said Chinese clients are worried about more than just this week's shutdown of Hong Kong's airport and other logistical headaches caused by the protests; they are also questioning whether the city will remain a stable place to do business over the long term. One company scrapped preliminary preparations for a 500 million initial public offering in Hong Kong partly because of the unrest, and will instead pursue a U.S. listing, according to a senior banker on the deal, who asked not to be named discussing private information. The social and political instability has had an impact on people's perceptions, said David Cho, a partner at law firm Dechert LLP who is based in Hong Kong. The city's benchmark Hang Seng Index has tumbled 12 percent over the past three weeks as clashes between protesters and police turned increasingly violent, raising fears that the Chinese military may intervene to restore order. The pipeline isn't looking strong for the remainder of the year, and things could get even worse if China decides to crack down more forcefully. (news.financializer.com). As reported in the news.