Date
8 December 2019

Markets

  • 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...
  • Traders work on the floor of the New York Stock Exchange. The entry of new exchanges may lower trading costs as the upstarts try to take business from the incumbents. Photo: Reuters

    New entrants to heat up US stock exchange competition

    Sep 20, 2019 11:20am
    At least three new US stock exchanges are expected in 2020, potentially lowering trading costs as the upstarts try to take business from the incumbents, while also adding complexity to the marketplace, Reuters reports. There are...
  • We Company, had it pressed on with the initial public offering, would have been valued at less than the US$12.8 billion in equity it has raised since it was founded in 2010. Photo: AFP

    WeWork delays IPO after frosty investor response

    Sep 18, 2019 7:51am
    WeWork owner The We Company has postponed its initial public offering (IPO), walking away from preparations to launch it this month after a lackluster response from investors to its plans, Reuters reports. The US office-sharing startup...
  • The Hong Kong Exchanges and Clearing has reportedly set up meetings with top investors of the London Stock Exchange over the next few weeks. Photo: AFP

    After LSE rebuff, HKEx begins investor charm offensive

    Sep 16, 2019 7:39am
    Hong Kong Exchanges and Clearing (HKEx, 00388.HK) is embarking on a three-week charm offensive with London Stock Exchange investors as the Asian trading house tries to salvage its proposed US$39 billion takeover offer, Reuters reports. LSE’s...
  • The London Stock Exchange reportedly wants to focus on completing its US$27 billion proposed acquisition of Refinitiv rather than risk it being derailed by the Hong Kong bourse, Photo: Bloomberg

    LSE board set to meet for decision on HKEx bid: report

    Sep 13, 2019 9:19am
    The London Stock Exchange’s board will meet in coming days to decide on the Hong Kong bourse’s surprise US$39 billion takeover proposal, a source close to the British company said on Thursday, as the market poured...
  • Hong Kong Exchanges and Clearing CEO Charles Li has made a daring move, but he admits he came in a bit late. Photo: Bloomberg

    HK-British corporate takeover drama: money can’t buy you love?

    - Sep 12, 2019 10:37am
    If Wednesday’s surprise announcement by the Hong Kong Exchanges and Clearing (HKEx, 00388.HK) of its proposal to acquire the London Stock Exchange (LSE) were a drama, would it be a comedy or a tragedy? Well, some...
  • HKEx appears confident its LSE proposal will face no major regulatory hurdles, but closing a deal will be anything but easy. Photo: Bloomberg

    HKEx seen facing uphill battle on US$39 bln bid for LSE

    Sep 12, 2019 10:17am
    Hong Kong Exchanges and Clearing (HKEx) unveiled a US$39 billion takeover approach to the London Stock Exchange (LSE) on Wednesday that received a cool response from investors concerned about its regulatory and financial hurdles. To prevail,...
  • The Hong Kong Exchanges and Clearing's bid to take over the London Stock Exchange comes as Britain is set to leave the European Union and Hong Kong is beset by months of political turmoil. Photo: CNSA/Bloomberg

    HKEx makes US$39 billion bid for London Stock Exchange

    Sep 11, 2019 5:55pm
    Hong Kong Exchanges and Clearing (00388.HK) has made an unsolicited US$39 billion takeover bid for the London Stock Exchange, an offer contingent on the LSE ditching its acquisition of data company Refinitiv. The combination would help...
  • People take an escalator next to posters and sticker notes supporting the anti-government protest movement near the Central Government Offices in Admiralty on Thursday. Photo: Reuters

    Back to the futures for Hong Kong traders

    - Sep 6, 2019 12:45pm
    “Hong Kong has no future and no option.” This was the running joke among brokers on Thursday after the Hong Kong Exchanges and Clearing (00388.HK) suspended derivatives trading for the first time in its history. Not a...
  • There is growing investor skepticism over WeWork's lack of a roadmap to profitability. Photo: Bloomberg

    WeWork considering reducing IPO valuation by more than half

    Sep 6, 2019 8:33am
    WeWork owner The We Company is considering slashing the valuation it will seek in an initial public offering to a little over US$20 billion, less than half the US$47 billion valuation it achieved in a private...
  • Manny Pacquiao has launched his “Pac” tokens, which will allow fans to buy his merchandise and interact with him via social media. Photo: Reuters

    Boxing champ Pacquiao launches own crypto tokens

    Sep 2, 2019 7:27am
    Philippine boxing champion Manny Pacquiao launched his very own cryptocurrency on Sunday at a free concert in Manila, where he serenaded more than 2,000 fans to drum up interest in the product. The 40-year-old boxer, who...
  • Alibaba could launch the Hong Kong deal as early as in October, seeking to raise US$10 billion to US$15 billion, when political tensions in the city ease. Photo: Xinhua

    Alibaba postpones HK listing amid protests: report

    Aug 21, 2019 12:41pm
    China’s biggest e-commerce company Alibaba Group Holding Ltd. has delayed its up to US$15 billion listing in Hong Kong amid growing political unrest in the Asian financial hub, Reuters reports, citing two people with knowledge of...
  • Juul is striving to grow outside the US as American regulators step up oversight on e-cigarette products. Photo: Bloomberg

    E-cigarette maker Juul raises US$325 mln for global expansion

    Aug 20, 2019 9:37am
    Electronic cigarette maker Juul Labs has raised US$325 million in an equity and debt offering to speed up its global reach amid intense regulatory scrutiny in its home turf in the United States, Reuters reports. Juul,...
  • A screen shows the numbers after the closing bell at the New York Stock Exchange on Wednesday. Photo: Reuters

    Selloff on Wall Street as recession fears take hold

    Aug 15, 2019 8:58am
    US stocks fell sharply on Wednesday, with all the three major indexes crashing about 3 percent, as recession fears gripped the market after the US Treasury yield curve temporarily inverted for the first time in 12...
  • Refinitiv acquisition will turn the LSE into a major distributor as well as creator of financial market data. Photo: Reuters

    LSE confirms US$27 bln Refinitiv deal

    Aug 1, 2019 4:31pm
    London Stock Exchange (LSE) said it has agreed to buy financial information business Refinitiv in a US$27 billion deal, confirming a move to transform itself into a market data and analytics giant. “This transaction is a...