A tale of two markets
“The IPO market around the world is inherently a cyclical entity and it is unwise and unrealistic to expect it to always be open,” H. Chin Chou, CEO of Morgan Stanley PE Asia, told an AVCJ webinar last year. “At some point the market will come back and you can take a company public, but until then you have to be comfortable holding that investment for the duration.”
When the IPO window does open, the question on everyone's lips is always how long will it remain open for. Australia and China both carry the weight of expectation, and it could be argued that each market...
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