IPO：沉寂的背后

IPO:Behind the Silence

犹如南方那场雪灾令许多人取消或推迟了回家团圆的日子，在这个冬天，内地的诸多企业也押后了他们的赴港IPO。

In early 2007,many mainland enterprises postponed their IPO plans in Hong Kong.These coincident actions led to collective silence of Hong Kong IPO at the beginning of the New Year and rewrote the stock history of Hong Kong,which caused January of this year to become the first month in which no new share was listed in 10 years in Hong Kong. The drowsy situation of IPO is caused by the wait- and-see attitude of the buyers and the sellers.Buyers still need a little more time to look at the impact of the subprime mortgage crisis,the impact of the snowstorm, and also need time to judge the direction and impact of Chinese policy.And the sellers are full of expectations on the upcoming NPC and CPPCC Sessions and they believe that the Chinese Government will not let the downturn stock market in a regardless position and will be bound to try to save the stock market,not to mention the year of the Olympic Games. Zero start for IPO implicates a contest between the enterprise and the capital owner.This contest is not only a game,but also price testing of the two sides. Even if businesses can work hard to catch the Express IPO,the share pricing power is transferring from the enterprises to the market.