Abstract: We rank repeat cornerstone investors in 144 HK IPOs raising US$100m or more, listed from January 2025 to September 2026, split by investor type. Our league table statistics show past 2W returns by investor type and for the top investors within each type. In 9M2026, deals with hedge fund cornerstones underperformed the other four types on median 2W return.
CHINA MER PORT, XIZHI TECH-P, SUNMI TECH
Research on Hong Kong and A+H equity offerings, from the first filing to the aftermarket. Coverage includes pre-IPO early thoughts on the business and valuation, analysis of the final deal terms and cornerstone investors, and updates as new prospectus versions are filed.
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