Hong Kong market rally drives share sale boom

epa05258132 A businessman walks past a display board showing global markets including closing information of Tokyo's Nikkei Stock Average (L, top), New York Dow (R, top) and NASDAQ (C), Sao Paulo market (R, bottom) and Hong Kong's Hang Seng Index in Tokyo, Japan, 14 April 2016. Tokyo's 225-issue Nikkei Stock Average was up 529.83 points, or 3.23 percent and closed at 16,911.05 as Wall Street hit its highest level this year. EPA/KIMIMASA MAYAMA

Bloomberg

Hong Kong’s market rally is benefiting developers to drugmakers, which rushed to sell stock in the biggest week for follow-on equity offerings in more than two years.
Companies listed in the city priced a combined $2.5 billion of such share sales last week, making it the busiest week since June 2015, according to data compiled by Bloomberg. The flood of new equity came as the benchmark Hang Seng Index soared past 32,000 points, breaking a previous all-time high set a decade ago, while a gauge of Chinese companies listed in the city is on its longest-ever winning streak.
The biggest offering came from Chinese homebuilder Country Garden Holdings
Co., which said that it sold
$1 billion of stock to pay down debt.

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