Hong Kong's IPO market withers as billion-dollar listings lapse, East Asia News & Top Stories – The Straits Times

HONG KONG (BLOOMBERG) – Hong Kong’s primary-listing market is going through a dry patch in what is normally the busiest time of the year. Several potential billion-dollar initial public offerings ranging from supermarket owner WM Tech Corp to health-care startup We Doctor Holdings have let their applications lapse in recent weeks as regulatory scrutiny and stock market weakness crimps listings. Large IPOs falling by the wayside are a further sign of how China’s regulatory onslaught is causing a downturn in the financial hub’s market for first-time share sales. Chinese President Xi Jinping’s push to align companies with his vision of…