AC

The Hong Kong stock exchange is fast becoming a haven for foreign companies seeking to increase their exposure to cash-rich Asia. Despite global weakness for initial public offerings, foreign names including Swiss mining firm Glencore International, Italian fashion house Prada and U.S. luggage maker Samsonite premiered on the Hong Kong exchange last year. Analysts expect Italian motorcycle maker Ducati and U.K. jeweler Graff Diamonds to launch IPOs in Hong Kong this year. All are looking for ways to boost their sales and attract a swelling Asian middle class that has the desire — and increasingly the means — to buy consumer goods. Foreign companies are "going where the money is," says Mark Mobius, executive chairman of mutual fund firm Franklin Templeton Investments. "It makes sense for companies that are expanding in the Chinese market to get a listing in Hong Kong" because it boosts their visibility. Companies have long sought to list their shares overseas, in Europe and the...