Date
16 November 2019

Markets

  • Hong Kong will remain a major financial center as it has undertaken 'many encouraging' reforms in its capital market, Alibaba Group chairman Daniel Zhang said. Photo: Reuters

    HK’s future ‘remains bright’, Alibaba says amid stock offering

    Nov 15, 2019 11:43am
    Hong Kong’s “future is bright” as a top financial center, Alibaba Group Chairman Daniel Zhang said, as the Chinese ecommerce giant kicked off the retail campaign for its secondary listing in the city.  In the chairman’s...
  • Alibaba's share offering in Hong Kong would be the world’s biggest cross-border secondary listing. Photo: Reuters

    Alibaba set to launch US$13.4 billion HK share sale: report

    Nov 13, 2019 6:49pm
    Chinese e-commerce giant Alibaba Group is poised to launch a Hong Kong share sale expected to raise up to US$13.4 billion as soon as Thursday, Reuters reports, citing two sources with knowledge of the discussions. The...
  • Bankers think the long-awaited IPO will value Aramco around US$1.5 trillion. Photo: Reuters

    Aramco prospectus flags risks, gives few details on IPO size

    Nov 11, 2019 7:45am
    Saudi state oil giant Aramco will sell up to 0.5 percent of its shares to individual retail investors and will be restricted from issuing additional shares for a year after the initial public offering, Reuters reports,...
  • Alibaba's offering in Hong Kong will be the world’s biggest-ever cross-border secondary listing, according to Dealogic data. Photo: Reuters

    Alibaba to launch US$15 billion HK listing this month: report

    Nov 8, 2019 3:47pm
    Alibaba Group Holding Ltd. plans to launch a Hong Kong share offering to raise US$10 billion to US$15 billion in the final week of November, two people with direct knowledge of the matter told Reuters. The...
  • Postal Savings Bank of China is planning the largest initial public offering in the mainland since 2015. Photo: AFP

    Postal Savings Bank of China eyes US$4.7 billion in Shanghai IPO

    Nov 6, 2019 9:25am
    Postal Savings Bank of China Co. Ltd. (PSBC, 01658.HK), which has the largest network of branches in the country, is hoping to raise up to 32.71 billion yuan (US$4.67 billion) through an initial public offering in...
  • Aramco chairman Yasser al-Rumayyan speaks at a news conference in Dhahran on Sunday to announce the start of the Saudi state oil giant’s IPO process. Photo: Reuters

    Saudi Aramco launches what could be world’s biggest IPO

    Nov 4, 2019 9:13am
    Saudi Aramco kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world’s biggest listing, Reuters reports. The Saudi state oil giant, the world’s...
  • Alibaba Group is reported to be pursuing Hong Kong listing plans again after holding off on the deal earlier due to political and social unrest in the city. Photo: Reuters

    Alibaba eyes HK listing as soon as Nov in resumed plan: report

    Oct 31, 2019 8:42am
    Alibaba Group is eyeing a listing in Hong Kong as early as November to raise up to US$15 billion, reviving a plan that was put on ice earlier due to political unrest in the city, according...
  • Founded in 2013, Canaan Creative designs and sells high-performance integrated circuits and is behind the Avalon series of bitcoin mining machines. Photo: Bloomberg

    Bitcoin mining machine firm Canaan Creative shifts IPO to Nasdaq

    Oct 29, 2019 4:07pm
    Canaan Creative, one of China’s biggest bitcoin mining hardware makers, has filed to publicly list on the Nasdaq to raise US$400 million, marking at least its third attempt to do so after previous failed tries in...
  • Sir Richard Branson rings the bell on the floor of the New York Stock Exchange as Virgin Galactic shares began trading in New York on Monday. With him is future Virgin Galactic space traveler Jennifer Rallison from Canada. Photo: Reuters

    Virgin Galactic soars before crashing to earth in NYSE debut

    Oct 29, 2019 9:14am
    Richard Branson-backed Virgin Galactic Holdings Inc. fetched a valuation of around US$2.3 billion on its market debut on Monday, after shares in the first publicly traded space tourism company popped before fizzling out. The listing for...
  • A co-working space in Beijing. China's biggest operator of such facilities is eyeing a US listing by the end of this year. Photo: Bloomberg

    China co-working space firm Ucommune files for US IPO – report

    Oct 25, 2019 3:34pm
    Ucommune, China’s biggest shared workspace provider, has filed a confidential prospectus with the US securities regulator for a planned initial public offering, Reuters reports, citing sources with knowledge of the matter. A prospectus was lodged with...
  • A logistics real estate developer is re-launching its Hong Kong IPO despite the ongoing unrest in the city. Photo: Bloomberg

    ESR Cayman seeks up to US$1.45 bln in revived HK IPO: report

    Oct 21, 2019 11:08am
    ESR Cayman Ltd, a logistics real estate firm that is backed by private-equity firm Warburg Pincus, aims to raise as much as US$1.45 billion from a revived Hong Kong initial public offering, Reuters reports. ESR, which...
  • Aramco is said to aiming to reassure investors with its third-quarter results before proceeding with a share sale. Photo: Reuters

    Aramco delays planned IPO until after earnings update: report

    Oct 18, 2019 9:57am
    Saudi Aramco has delayed the planned launch of its initial public offering in hopes that pending third-quarter results will bolster investor confidence in the state oil giant, Reuters reports, citing sources familiar with the matter. Aramco...
  • China Everbright Group could raise up to US$3 billion in the share offering, sources said. Photo: Reuters

    China Everbright Group to pursue Hong Kong IPO: report

    Oct 10, 2019 1:53pm
    State-owned financial conglomerate China Everbright Group aims to restructure its sprawling business and pursue a billion-dollar IPO next year in Hong Kong, Reuters reports, citing three people with direct knowledge of the matter. While the offering...
  • AirAsia's Philippine unit now expects to go public only sometime between the third quarter of next year and the first quarter of 2021. Photo: Bloomberg

    Philippines AirAsia delays IPO to 2020 or 2021

    Oct 9, 2019 4:29pm
    The Philippine unit of AirAsia is postponing its initial public offering (IPO) to next year or 2021 as it focuses on corporate reorganization and seeking funds from existing shareholders, Reuters reports. “According to our estimated timeline,...
  • China's Megvii, known for its facial recognition platform Face++, has strongly objected to a US move to include the company on a human rights-related trade blacklist. Photo: Bloomberg

    Goldman evaluating role in China’s Megvii IPO after US blacklist

    Oct 9, 2019 3:46pm
    Goldman Sachs is reviewing its involvement in Megvii Technology’s planned initial public offering after the US government placed the Chinese artificial intelligence firm on a human rights blacklist, Reuters reports. The US investment bank, in an...
  • HKEx says it is disappointed that it has been unable to engage with LSE's management over a takeover offer. Photo: Bloomberg

    HKEx drops bid to buy London Stock Exchange

    Oct 8, 2019 10:11am
    Hong Kong Stock Exchanges and Clearing (HKEx) said on Tuesday that it has dropped its US$39 billion bid to acquire London Stock Exchange Group (LSE). In a statement, Hong Kong’s stock market operator said it has...
  • Companies raised US$15 billion in new listings in Hong Kong in the first nine months of 2019, second only to New York. Photo: AFP

    Investors keep their faith in HK markets despite protests

    Oct 3, 2019 10:31am
    As anti-government protesters fought pitched battles with police in Hong Kong streets last week, a group of bankers in another part of the city were busy taking in billions for the public float of the Asia...
  • An AI-driven stock trading venue operator in the US aims to become an exchange or partner with an existing bourse to serve investors better. Photo: Bloomberg

    AI-driven stock-trading venue eyes US exchange status

    Oct 3, 2019 10:01am
    Imperative Execution, an artificial intelligence-driven US stock trading venue operator, is going after the business of the New York Stock Exchange and other bourses by adopting their pricing models and may soon register as an exchange,...
  • Nasdaq’s attempt to limit flotations by small Chinese companies comes as a growing number of them end up raising most of the capital in their IPO from Chinese sources, rather than from US investors. Photo: Bloomberg

    Nasdaq cracks down on IPOs of small Chinese firms: report

    Sep 30, 2019 8:38am
    Nasdaq Inc. is cracking down on initial public offerings of small Chinese companies by tightening restrictions and slowing down their approval, Reuters reports, citing regulatory filings, corporate executives and investment bankers. Nasdaq’s attempt to limit these...
  • The initial public offering of the Asia-Pacific unit of Anheuser-Busch InBev NV, the world’s largest brewer, is the second-biggest globally so far this year. Photo: Reuters

    AB InBev Asia unit raises US$5 billion in Hong Kong IPO

    Sep 24, 2019 2:11pm
    AB InBev raised about US$5 billion in a Hong Kong IPO of the brewer’s Asia-Pacific unit after pricing it at the bottom of a marketed range, Reuters reports. The IPO of the unit of Anheuser-Busch InBev...