A cemetery is one place most people would not choose to queue for. Except in Hong Kong, where the resurgent market for new equity listings is prompting some unusual behavior.
The $200 million deal from Fu Shou Yuan, a mainland-based chain of burial grounds, is attracting fevered early interest from investors keen to tap the spending power of wealthy Chinese, even in the afterlife.
In spite of missing out – at least for now – on the blockbuster listing of Alibaba, Hong Kong's market for initial public offerings has sprung back to life. After a nervous few months, deal flow has picked up, guaranteeing that 2013 will better last year's moribund haul. In the year to date, $12 billion has been raised in the city, beating last year's total of $11.4 billion, according to Dealogic.
(Read more: Hong Kong on track to regain IPO sizzle)
The deals are stacking up fast. In November alone, 13 companies filed their listing documents to the Hong Kong exchange, together hoping to raise more than $6 billion.