High demand for Miko, first Hong Kong IPO of 2014

Miko International Holdings, a beloved Chinese children apparel retailer

which sells under the Red Kids brand, is set to be the first initial public offering (IPO) in the Hong Kong stock market. The stock has attracted 18.9 billion Hong Kong dollars worth of margin orders from investors in a week.

The book-building period in which the retailer has been opened to investors interested in buying shares was opened on December, 31 and will close on January, 7. During the period, Miko International Holdings has received an offer at 510 times Miko's retail target.

Miko aims to raise up to 371.2 million Hong Kong dollars through an initial public offering and, according to local brokers, to benefit from China's loosening of the country's one-child policy. The current and more relaxed political environment will lure many Hongkongers to invest in the offering, said in an interview with ‘The Standard’ Matthew Kwok Ka-yiu, chief strategist at China Yinsheng Capital Group.

Kwok has dubbed Miko a "policy supportive stock," recommending buying the stock before it jumps on its January 15 trading debut.

Miko opened its retail book on the last of December, 2013 for its 371.2 million Hong Kong dollars offering and will go public on January 15. It will cost about 4,686 Hong Kong dollars for one board lot of 2,000 shares.