By investor type, observers report that China funds dominated in Asia, while the US saw a smattering of interest from global tech funds. And as usual when investors saw how popular the deal was becoming, a lot of froth emerged at the end. The only problem with this deal is that there hasn't been enough stock to go round. The social security fund controversy In the final few days before pricing, the company's fundamental attractions were almost eclipsed over confusion about its use of proceeds. He also added that, henceforth, all other listing candidates would be required to follow suit in what was then widely reported as a new IPO tax or levy.
Observers concur that such a move is indeed likely.
Most Mainland 'privatizations' have largely been primary share offerings. Plans for a national social security fund were first announced last September. Concerns about the disintermediation of the travel business and the threat from the internet have faded somewhat. These companies are now steadily closing the gap with transaction processing companies like Concord and First Data. TravelSky also operates, but has not included in the listing vehicle, a front-end consumer portal enabling customers to bypass agents and book directly online.