The South China Morning Post has reported that Hong Kong Airlines is planning an initial public offering (IPO) worth $500 million denominated in both the Chinese Yuan (USDCNY) and the Hong Kong Dollar (USDHKD).
So the Facebook (FB) IPO is now complete. Zuckerberg has collected his billions, the underwriters took their (discounted) selling commission, investors have taken a bath, and the class action suits are already being filed.
The transaction was a disappointment by any objective measure.
Unless you have been living under a rock, you probably know that Facebook (FB) has filed for listing on the stock exchanges and plans to raise $5 billion through its IPO, which is rumored to value the firm at $100 billion. I have several issues with the IPO, starting with the fact that Mark Zuckerberg (who I greatly respect) will dominate the company and the shareholders will have little control over the happenings at Facebook. I plan on discussing the management issues in a separate article.