23 October 2019


  • Uber is seeking to be valued at between US$80 billion and US$90 billion. Photo: Bloomberg

    Uber set to kick off investor road show with IPO terms

    Apr 26, 2019 8:32am
    Ride-hailing company Uber Technologies Inc will unveil terms for its initial public offering on Friday, telling investors it will seek to be valued at between US$80 billion and US$90 billion, Reuters reports, citing people familiar with...
  • PTT Oil & Retail, which includes gas stations, coffee shops and convenience stores, could raise about US$2 billion in its IPO. Photo: Reuters

    Thailand set to be Southeast Asia’s hottest IPO market this year

    Apr 25, 2019 2:51pm
    Thailand is set to see the most funds raised from initial public offerings in Southeast Asia this year, with more than US$5 billion expected to be garnered in the second half, Reuters reports. Southeast Asia’s second-largest...
  • Luckin Coffee has been expanding at breakneck speed as it seeks to displace Starbucks as the top player in the China coffee market. Photo: Bloomberg

    China’s Luckin Coffee files for US listing

    Apr 23, 2019 9:26am
    Beijing-based coffee chain Luckin Coffee on Monday filed for an initial public offering in the United States as it aims to expand its store network and boost its operations further in China. The Chinese startup, which...
  • Pinterest priced its IPO at US$19 per share, above expectations, to fetch a valuation of US$12.66 billion. Photo: Reuters

    Pinterest raises US$1.4 billion in IPO

    Apr 18, 2019 9:07am
    Pinterest Inc raised around US$1.4 billion in its initial public offering (IPO), fetching a roughly US$12.66 billion valuation, above its expectations, Reuters reports. Pinterest, the online scrapbook where users save ideas for clothes, décor and recipes,...
  • Uber had 91 million users but lost US$3.03 billion in 2018 from operations. Photo: Reuters

    Uber unveils IPO with warning it may never make a profit

    Apr 12, 2019 8:35am
    Uber Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said in its initial public offering filing, Reuters reports. The document gave the first comprehensive...
  • Lyft will release its financial results for the first fiscal quarter ended March 31 after the market closes on May 7. Photo: AFP

    Lyft shares hit new low amid Uber IPO chatter

    Apr 11, 2019 8:59am
    Shares of recently listed Lyft Inc fell to a fresh low and closed down almost 11 percent on Wednesday on news that rival Uber Technologies Inc was close to filing its own initial public offering, Reuters...
  • The London Stock Exchange is waiting to see if Britain’s markets watchdog will impose restrictions on where shares can be traded in case of a no-deal Brexit. Photo: Bloomberg

    London Stock Exchange prepares for no-deal Brexit

    Apr 9, 2019 9:23am
    The London Stock Exchange said its pan-European platform Turquoise would shift trading in euro-denominated shares to its new Dutch hub if Britain leaves the European Union at the end of the week without a deal, Reuters...
  • Li Ruigang, chairman of China Media Capital, is known for his big appetite for mega deals in the media industry. Photo: Reuters

    Chinese Murdoch wants to list his media assets

    - Apr 1, 2019 4:11pm
    Last month Australian-born American media mogul Rupert Murdoch completed his deal of the century with the sale of most of 21st Century Fox’s entertainment assets to The Walt Disney Company. Li Ruigang, dubbed as China’s Murdoch,...
  • The success of Lyft’s IPO indicates many investors were willing to overlook uncertainty over the company’s path to profitability. Photo: AFP

    Lyft valued at US$24.3 billion in first ride-hailing IPO

    Mar 29, 2019 7:43am
    Lyft Inc was valued at US$24.3 billion in the first initial public offering (IPO) of a ride-hailing startup on Thursday, raising more than it had set off to do, Reuters reports. Lyft’s IPO sets the stage...
  • MTR shares surged to a one-year high after the company suffered one of its worst accidents in four decades of operation. Photo: MTR Corp/Reuters

    The more MTR is slammed, the higher its shares climb

    - Mar 20, 2019 1:11pm
    Name a blue-chip company that has generated so much bad news in recent months yet has seen its shares continue to rise. MTR Corp (00066.HK), the teflon company. Its investors – don’t they read the papers...
  • Swiss giant UBS was banned from leading initial public offerings in the city for a year, and fined HK$375 million. Photo: AFP

    SFC fines top investment banks US$100 million for IPO failures

    Mar 15, 2019 10:30am
    Hong Kong’s securities regulator banned UBS from leading initial public offerings (IPOs) in the city for a year, while fining it and rivals including Morgan Stanley a combined US$100 million for due diligence failures on a...
  • The tech board's registration-based listing procedure cuts the regulatory red tape and allows startups that have yet to turn a profit to list. Photo: AFP

    Shanghai tech board draws defectors from rivals

    Mar 14, 2019 9:34am
    A growing number of companies trading on China’s main over-the-counter (OTC) equity market are defecting to Shanghai’s hotly-anticipated Nasdaq-style technology board, as they follow the money. Four companies, including Jiangsu Beiren Robot System Co. and Jiangxi...
  • China aims to encourage more technology firms to seek listings at home as part of efforts to boost the financial markets. Photo: Reuters

    China publishes final rules for new Shanghai tech board

    Mar 4, 2019 9:15am
    China has finalized regulations for a Nasdaq-style innovation board that promises to smooth the way for Chinese technology IPOs, Reuters reports. The stock market regulator late on Friday published the rules for the tech board in...
  • Wong Ching-kit, 25, was arrested on Thursday along with a core member of his firm on suspicion that they had duped some people through the sale of crypto mining equipment. Photo: RTHK News video/screenshot

    Man behind cash-throwing stunt arrested for crypto-related fraud

    Mar 1, 2019 3:32pm
    A purported crypto entrepreneur who found himself in the news last December for a money-throwing stunt on a Hong Kong street was arrested on Thursday for suspected fraud related to sale of virtual currency mining equipment. Wong...
  • Chinese shares rallied after MSCI said it would quadruple the weighting of mainland shares in its global benchmarks later this year. Photo: AFP

    Asian shares up after MSCI announces China weighting boost

    Mar 1, 2019 10:33am
    Asian shares rose on Friday, driven by a rally in Chinese markets after index publisher MSCI announced it would boost the proportion of mainland shares in its global benchmarks, Reuters reports. Chinese shares rallied, with the...
  • Uber and Lyft want to improve relations with drivers who have long contested their classification as independent contractors and what they have claimed are low wages and poor treatment by the companies. Photo: Reuters

    Uber, Lyft to offer IPO shares to most active drivers

    Mar 1, 2019 9:31am
    Uber Technologies Inc. and Lyft plan to offer cash bonuses to some of their most active drivers with the option to purchase shares in the ride-hailing firms’ highly anticipated Wall Street debuts, Reuters reports. Both programs...
  • Apple's former top corporate lawyer is alleged to have misused his position to trade illegally in company stock ahead of earnings announcements. Photo: Reuters

    US charges former top Apple lawyer with insider trading

    Feb 14, 2019 9:14am
    A former top corporate lawyer at Apple was criminally charged by the US Department of Justice on Wednesday with insider trading, Reuters reports. Gene Levoff exploited his positions as corporate secretary, head of corporate law and...
  • The securities regulator said Prasert Prasarttong-osoth, his daughter and another executive executed and matched trading in Bangkok Airways shares that caused price and volume to be inconsistent with market conditions. Photo: Bloomberg

    Thai tycoon quits listed firms on regulator’s order

    Jan 21, 2019 1:11pm
    Thai tycoon Prasert Prasarttong-osoth resigned on Monday as chief executive of Bangkok Dusit Medical Services and Bangkok Airways after the securities regulator barred him from holding executive positions in listed Thai firms, citing share manipulation, Reuters...
  • NYSE and Nasdaq are set to face fresh competition as major Wall Street players plan to set up a new bourse. Photo: Reuters

    Wall St firms plan new low-cost stock exchange

    Jan 8, 2019 8:53am
    A group of nine financial institutions, including Morgan Stanley, Fidelity Investments and Bank of Bank of America Merrill Lynch, plan to launch a low-cost bourse that will compete with the New York Stock Exchange and Nasdaq....
  • US stocks in 2018 had their worst year in a decade, heavily driven by steep price drops in the last quarter. Photo: Reuters

    Trump calls December stock market fall a ‘glitch’

    Jan 3, 2019 8:15am
    US President Donald Trump played down the stock market’s drop at the end of 2018, calling it a “glitch” and saying the market will again go up once various trade deals are settled, Reuters reports.  Trump, who...