Post Tagged with: "IPO"

China National Tobacco, the world?s largest cigarette maker, plans Hong Kong IPO for international unit

China National Tobacco, the world?s largest cigarette maker, plans Hong Kong IPO for international unit

China National Tobacco, a state monopoly that is by far the biggest cigarette maker in the world, plans to list its international unit on the Hong Kong stock exchange even as pressure increases on the government to curb smoking. The unit, China Tobacco International, is primarily responsible for procuring overseas […]

Why this Hong Kong tycoon?s family backed biotech firm ditches the city for Nasdaq listing

Why this Hong Kong tycoon?s family backed biotech firm ditches the city for Nasdaq listing

Stealth BioTherapeutics, a US-based mitochondrial diseases drug developer backed by Hong Kong property developer Hang Lung Group?s Chan family, has ditched its listing plan in the city for a flotation in the disclosure-based Nasdaq market that has fewer time-consuming approval hurdles. The move comes after a sharp correction of pharmaceutical […]

The bicycle kingdom goes electric, and China?s biggest e-bike maker Yadea wants to make most of them

The bicycle kingdom goes electric, and China?s biggest e-bike maker Yadea wants to make most of them

Dong Jinggui, chairman of China?s largest electric scooter maker , envisions rebranding e-bike as glitzy and hi-tech by launching new models that would be priced five times more than existing products. The Hong Kong-listed company plans to unveil dozens of new electric bicycles in 2019, with some products priced at […]

The tenuous truce in the US-China trade war will decide whether Hong Kong?s best IPO party ever continues in the new year

The tenuous truce in the US-China trade war will decide whether Hong Kong?s best IPO party ever continues in the new year

On July 12, the Hong Kong stock exchange (HKEX) conducted an unprecedented ritual to start its trading day: four gigantic gongs were struck one after the other by executives of eight companies to commemorate the debut of their stocks. The eight companies, including Chinese live-streaming application Inke, had to share […]

Don?t worry about amount raised, get out first ? Chinese firms rush to list overseas, avoid 2019 headwinds

Don?t worry about amount raised, get out first ? Chinese firms rush to list overseas, avoid 2019 headwinds

Vivien Han?s company went public in New York this summer, grabbing headlines in the Chinese media, and was considered another rising star that had successfully tapped the fast-growing Chinese consumer market. Han and her colleagues, however, did not consider the initial public offering (IPO) a success. ?We had to cut […]

China?s Bitmain Technology and Huobi plan layoffs as cryptocurrency crunch begins to bite

China?s Bitmain Technology and Huobi plan layoffs as cryptocurrency crunch begins to bite

Two of the world?s biggest cryptocurrency companies have confirmed lay-off plans amid an industry crunch that has seen US$170 billion wiped off bitcoin?s market value this year. Beijing-based Bitmain Technology, the world?s biggest maker of cryptocurrency mining rigs, said in a statement that the company is undergoing ?some adjustment to […]

Hong Kong regains global IPO crown from New York in 2018 thanks to its listing reforms

Hong Kong regains global IPO crown from New York in 2018 thanks to its listing reforms

The Hong Kong stock exchange reclaimed its crown as the No 1 IPO market in the world in 2018, beating last year?s winner New York, as listing reforms led to the highest fundraising in eight years, according to Refinitiv data. Hong Kong?s main board had a 17.6 per cent share […]

Tencent joins Naspers in US$1 billion funding for Indian food delivery service Swiggy

Tencent joins Naspers in US$1 billion funding for Indian food delivery service Swiggy

Tencent Holdings joined Naspers in a US$1 billion investment in Indian food delivery service Swiggy, which gains a potentially valuable ally in China?s largest social media and gaming company. Naspers led the financing, which snagged new backers Hillhouse Capital and Wellington Management in addition to existing investors DST Global, Meituan […]

SoftBank IPO‘s weak debut is still a win for technology titan Masayoshi Son

SoftBank IPO‘s weak debut is still a win for technology titan Masayoshi Son

Masayoshi Son raised 2.65 trillion yen (US$23.6 billion) by pulling off the world?s second-largest initial public offering ever. Investors were not so lucky. SoftBank Corp., the Japanese telecommunications business of the billionaire?s technology empire, dropped 14.5 per cent to 1,282 yen at the close in Tokyo on Wednesday, hurt by […]

Hong Kong regulators say IPOs by cryptocurrency businesses are premature, putting Bitmain?s US$3 billion fundraising plan in peril

Hong Kong regulators say IPOs by cryptocurrency businesses are premature, putting Bitmain?s US$3 billion fundraising plan in peril

Hong Kong?s stock market regulator and operator have signalled their reluctance to give their green light to an initial public offering (IPO) by the world?s largest assembler of cryptocurrency mining equipment, while a regulatory framework is still being drafted to ring-fence the disruptive technology. It is premature for any cryptocurrency […]