(Bloomberg) — It’s been months since bankers and reporters in Hong Kong have gone to any in-person press conferences for an initial public offering. GogoX Holdings Ltd. is ending the lull.
The Hong Kong-based logistics startup is inviting the press on Tuesday to its IPO briefing, taking place in an office building in Admiralty neighborhood.
He Song and Steven Lam, its co-chief executive officers, will be among those attending the occasion.
The press conference signals how the financial circle in Hong Kong has revived face-to-face events after more than two years of stringent social distancing measures and travel restrictions.
Online events remain the norm though as the city still maintains certain Covid policies including a capacity cap at event premises.
GogoX, though it’s only raising about $86 million, has enlisted four banks as its IPO sponsors: China International Capital Corp., UBS Group AG, Bocom International Holdings Co.
and ABC International Holdings Ltd.
Any deal will test the waters in Hong Kong’s capital market where the deal flow has significantly slowed down amid market turmoil from inflation concerns and the war in Ukraine.
Companies have raised about $2.3 billion through IPOs so far this year, only a fraction of the $25.9 billion raised during the same period in 2021, according to data compiled by Bloomberg.
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