HONG KONG/NEW YORK (Reuters) – Who needs expensive lunches at glitzy hotels and fancy restaurants to court investors for bond deals or the sale of new shares on the stock exchange?
FILE PHOTO: A man wears mask to prevent a new coronavirus outbreak as he uses his mobile, with skyline in the background of Hong Kong, China, January 29, 2020. REUTERS/Tyrone Siu/File Photo
In a world governed by quarantine and social distancing rules, even lead managers on multi-billion dollar deals have had to curtail travel and drop the personal touch in favour of video conferences and phone calls to woo potential investors.
Warner Music Group WMG.O is one of more than a dozen companies that launched an initial public offering (IPO) in the aftermath of the COVID-19 pandemic and saw their shares soar on the first day trading.
“The wear from a virtual roadshow is much less than the wear and tear on the old normal roadshow. I was pleasantly surprised,” Warner Music Group chief executive Stephen Cooper…
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