Sun Art lives up to (note 1) hype (大肆宣傳) as it checks out $34b orders

Sun Art lives up to (note 1) hype (大肆宣傳) as it checks out $34b orders
China's largest hypermarket (巨型超級市場) operator, Sun Art Retail Group, froze (凍結資金) HK$34 billion in margin orders (note 2), making it this year's second "most popular" initial public offering (note 3) after Milan Station (1150).

Milan Station, a retailer of second- hand high-end (二手高檔) fashion bags and accessories (附屬品、小配件), managed to freeze HK$59.1 billion in margin orders during its IPO in May. Sun Art's retail book was 41 times oversubscribed (41倍超額認購). The company will announce its final price today and start trading a week from today.

In other action, Singapore-based property developer Ascendas Group will list in Hong Kong via a yuan-denominated (用人民幣買賣) real estate investment trust (note 4).

The company plans to raise (集資) up to US$400 million (HK$3.12 billion) through a REIT comprising three prime commercial properties in Shanghai. Ascendas Group has already listed two REITs in Singapore.

As for mainland listing candidates, two firms have priced (定價) their shares near the bottom of their respective indicative ranges. Infant-care products maker Frog Prince's shares have been priced at HK$2.60 apiece. The company froze HK$3 billion through margin orders, chalking up (note 5) a 25 times oversubscription for its retail book. It will make its debut (首日買賣) on the same day as Sun Art.

Solar-panel (太陽能板) producer Shunfeng Photovoltaic is likely to price its shares at HK$1.11 apiece, close to HK$1.09 - the bottom of its range. The firm is set to debut on Wednesday. In other action, 1010 Printing Group and Winox Holdings attracted HK$1.2 million and HK$400,000 in margin orders respectively, far short of (低於) their targets of HK$11 million and HK$36 million.
From good to better English:

(note 1) live up to=實現。live and let live = 和平共存的。live for= 盼望。 live in fear= 在恐懼中生存。live together=共同生活、 同居

(note 2) margin orders=貸款買賣(例如: 投資者拿出10%資金，向經紀或銀行貸款90%，廣東話叫[炒碼餞]。) the narrow margin of profit=微利。

(note 3) initial public offering=IPO(初次公開招股集資)。Initial=最初的、開始的。the initial stage=初期，開始階段。Initials=姓名中的大寫字母如 Irene Elizabeth So 中的I.E.。

(note 4) real estate investment trust=簡寫是REIT(地產基金)，即是把一些地產項目估值後再分成若干股，這些股份可以在股票市場買賣。

(note 5) chalk up=達到。Not to make chalk of one and cheese of the other=公平待遇，一視同仁。Ivy’s English proficiency is by a long chalk compared to Victor’s＝Ivy的英文比Victor的強得多，好得多。

Victor’s View: It is good to hear that many mainland and foreign companies are listing in Hong Kong. That has strengthened our status as China’s financial center. Investors, however, must keep a clear head and not resort to herd instinct when it comes to apply for IPOs and buy stocks.

(Victor Fung Keung, director of HK Baptist University’s M.A. in international journalism program, has published 3 books on English-enhancement and plans to write 7 more by the end of 2012. Write to him: deanfungenglish@gmail.com)