No Three-Peat for Hong Kong IPOs?

If the first two months of the year are anything to go by, this may be the year that Hong Kong cedes its IPO market crown back to the U.S. after two years at the top.

The U.S. has seen 24 IPOs so far this year, compared to just 13 in the same period a year ago, writes Deal Journal, citing data from Renaissance Capital. The total volume from those deals is $8.1 billion, up from $1.9 billion on-year.

The resurgence in U.S. IPOs comes as emerging markets are being battered by investor fears over inflation, which has sent funds flowing back to developed markets. As evidence of that slowdown in IPOs in emerging markets, Renaissance Capital says there have been nine IPOs larger than $100 million outside of the U.S. in 2011 so far. Last year, there were 19 in the same period.

CIC Goes Shopping in Japan, for Property

China Investment Corp.’s most high-profile real estate investment in Japan so far is just the sovereign wealth fund’s latest move in steadily building up its property portfolio.

CIC, together with Blackstone Group L.P., agreed to buy a Japanese property loan portfolio from Morgan Stanley last year for around US$ 1billion, according to a person familiar with the matter.

CIC has been showing increasing interest in distressed property assets since the financial crisis, particularly in the U.S. Depressed real-estate values there have been drawing interest from foreign investors from all over, though the value of investments still pales in comparison to the pre-crisis days of 2007, when in the third quarter overseas investment peaked at $8.7 billion.

On Tap Friday: AIA Group Earnings

Economic data:

- South Korea: January balance of payments data
- Singapore: Industrial production index for January
- Hong Kong: January tourism numbers

Corporate earnings:

- Hong Kong: AIA Group Ltd.
- Japan: Monthly reports from automakers including Honda Motor Corp., Mitsubishi Motors Corp., Nissan Motor Co. and Toyota Motor Corp.
- Malaysia: Malaysia Airline System Bhd.
- U.K.: Lloyds Banking Group PLC

Quek Creeps Closer to BEA

Another incremental move by Malaysian billionaire Quek Leng Chan to raise his stake in  Bank of East Asia Ltd. is reigniting speculation of the bank’s future – a favorite pasttime of local journalists on the banking beat.

Mr. Quek, through his listed flagship Guoco Group Ltd., increased his holdings in BEA from 9.98% to 10.06%, according to a statement to the Hong Kong stock exchange on Thursday. Guoco is the second-largest shareholder in the bank after Spain’s Criteria CaixaCorp S.A. ,  which holds 15.01%.

Divining the Structure of Samsonite’s IPO

The details are still thin on luggage maker Samsonite’s upcoming listing, but its long list of bookrunners and advisers provides some clues on what form the offering could take. It’s also likely that the offering will take place in Hong Kong rather than Singapore, writes Dow Jones Investment Banker.

By Philippe Espinasse

Little information has been disclosed about the long-awaited, proposed IPO in Asia of Samsonite. But the composition of the bookrunning syndicate and the earlier appointment of independent advisers offer insights into the structure of the offer, including the likelihood that the listing will be in Hong Kong.

There are few surprises with the syndicate, which comprises at the top line Goldman Sachs, HSBC, Morgan Stanley, Royal Bank of Scotland and UBS.

New Pitch for Tokyo Investors: A Bourse Mascot

Japanese stocks are certainly not an easy pitch for investors when the market here has performed relatively poorly for the past two decades, compared to other booming bourses in Asia.

And with global consolidation continuing apace, the Tokyo Stock Exchange may find itself in an even more difficult position in future.

But the Tokyo Stock Exchange has one weapon that other bourses are unlikely to have: A PR mascot with its own Twitter account (@tse_pr) that has nearly 1,800 followers.

Continue reading on Japan Real Time.

On Tap Thursday: Hong Kong Blue-Chip Earnings

Economic data:

- Taiwan: Unemployment figures for January
- Japan: CPI numbers for January
- Germany: revised fourth-quarter GDP numbers
- European Union: Business and consumer surveys for February
- U.S.: Advance report on durable goods and new residential sales for January, weekly unemployment claims

Corporate earnings:

- Hong Kong: Sino Land Co. Ltd., Hopewell Holdings Ltd., CLP Holdings Ltd., NWS Holdings Ltd.
- Indonesia: PT Bank Negara Indonesia
- Malaysia: AirAsia Bhd.
- U.K.: Royal Bank of Scotland PLC

En+ Chief Makes Siberian Power Plug

United Co. Rusal has billed itself as a low-cost producer of aluminum because of its access to Siberian hydroelectricity. Now its parent company is making a similar sales pitch for selling that electricity across the border to China.

Speaking at a luncheon in Hong Kong on Wednesday, En+ Group Chief Executive Artem Volynets laid out the reasons why China would eventually have to find a substitute for its coal-burning ways and buy electricity from Russia. Perhaps not coincidentally, Mr. Volynets’ visit to Hong Kong is timed with the pre-marketing of another En+ company, electricity producer EuroSibEnergo, which is planning to raise US$1 billion in a Hong Kong IPO, according to Dow Jones Newswires.

China’s Sany Plans to List in Brazil

Much ado has been made about Brazil’s Vale SA listing in Hong Kong to tap Asian investors, and one Chinese company is now returning the favor.

Hong Kong-listed machinery maker Sany Heavy Equipment International Holdings Co. Ltd. plans to raise US$300 million from selling shares in Brazil through Brazilian depositary receipts, reports Dow Jones Newswires.

On Tap Wednesday: Hong Kong Budget, Q4 GDP

On Wednesday, Hong Kong Financial Secretary John Tsang will give the budget speech. It’s expected that the government will increase land supply while offering relief measures such as income-tax rebates, as it’s likely that Hong Kong will post a huge budget surplus.

Economic data:

- Hong Kong: fourth-quarter GDP, budget speech.
- Singapore, Malaysia: CPI data for January
- Taiwan: industrial output figures for January
- European Union: new industrial orders in December
-U.S.: January existing home sales

Corporate earnings:

-Australia: Macarthur Coal Ltd.
- Hong Kong: Sihuan Pharmaceutical Holdings Group, Xinjiang Goldwind Science & Technology Co., Smartone Telecommunications Holdings Ltd.
- Malaysia: Parkson Holdings Bhd.
- Philippines: Cebu Air Inc.
- Singapore: Wilmar International Ltd.