https://www-scmp-com.libproxy1.nus.edu.sg/rss/21260/feed Latest news and analysis on initial public offerings (IPOs), with a particular focus on companies raising funds on the Hong Kong Stock Exchange. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Vincent Chow,Chong Ming Lee Vincent Chow,Chong Ming Lee Open-weight models, China-US tensions, Taiwan – just a few of the more than dozen references to China-related risks cited in Anthropic’s much-anticipated listing prospectus, which was finally released on Monday after months of speculation. Mostly concentrated within the 93-page “risk factors” section of the filing with the US Securities and Exchange Commission, the disclosures reveal how the Silicon Valley start-up assesses the commercial threats posed by China and its artificial intelligence... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3372329/how-china-risk-factors-loom-over-anthropics-hotly-anticipated-ipo-filing https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3372329/how-china-risk-factors-loom-over-anthropics-hotly-anticipated-ipo-filing Tue, 27 Oct 2026 13:00:08 +0000 Zoe SL Chan Zoe SL Chan Hong Kong’s fundraising market is now facing a severe test, as the last-minute halt of two initial public offerings (IPOs) within a week raises concerns over investor appetite amid market volatility and stricter regulation, analysts say. Robotics maker Changzhou Microintelligence decided to postpone its IPO due to “the consideration of several factors, including prevailing market conditions”, according to its Sunday announcement – echoing reasons cited in previous deals pulled from the... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372196/hong-kong-market-faces-fundraising-test-after-fourth-ipo-pulled-midyear https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372196/hong-kong-market-faces-fundraising-test-after-fourth-ipo-pulled-midyear Tue, 27 Oct 2026 02:00:09 +0000 Reuters Reuters Anthropic disclosed steep losses and explosive revenue growth on ⁠Monday as the Claude parent moved closer to a potentially record-breaking IPO, betting on AI’s ability to reshape the global economy. The listing is shaping up to be a major test of appetite for AI from investors who are increasingly scrutinising the returns on billions of dollars of investments and questioning the sustainability of sky-high valuations. “Anthropic’s IPO will certainly establish a benchmark for valuing leading AI... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3372202/anthropics-ipo-filing-shows-explosive-growth-risks-and-staggering-costs https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3372202/anthropics-ipo-filing-shows-explosive-growth-risks-and-staggering-costs Mon, 26 Oct 2026 13:53:04 +0000 Zoe SL Chan Zoe SL Chan Chinese printed circuit board maker Suzhou Dongshan Precision Manufacturing Co failed to excite retail investors in Hong Kong, making it one of the least popular mega initial public offerings (IPOs) in the city so far this year. Bookbuilding closed as scheduled on Friday, with preliminary figures showing the public offering has been undersubscribed with fewer than 10,000 applicants, according to people familiar with the matter. Dongshan Precision is seeking to raise as much as HK$10.7 billion... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3371948/dongshan-precision-retail-ipo-undersubscribed-hong-kong-mega-listing-flops https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3371948/dongshan-precision-retail-ipo-undersubscribed-hong-kong-mega-listing-flops Fri, 23 Oct 2026 11:01:11 +0000 Zoe SL Chan Zoe SL Chan Hong Kong’s tougher oversight and weak investor demand have put many mainland China issuers in a dilemma, forcing many small-cap non-technology firms to delay their fundraising plans or even cancel them at the last minute, according to industry players. On Tuesday Jiangsu Slender West Lake Culture and Tourism (SWL Tour) became the latest such case, when the state-owned aquatic tourism service provider postponed a HK$227 million (US$28.93 million) listing. The company attributed the decision to... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371641/hong-kong-sees-last-minute-ipo-cancellations-amid-increased-regulatory-checks-weak-market https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371641/hong-kong-sees-last-minute-ipo-cancellations-amid-increased-regulatory-checks-weak-market Wed, 21 Oct 2026 09:01:10 +0000 Vincent Chow Vincent Chow The growing popularity of Chinese artificial intelligence models has emerged as a key risk factor for Anthropic ahead of its blockbuster initial public offering, according to US research firm Hedgeye Risk Management. “It’s all about Chinese competition when analysing Anthropic,” said Felix Wang, managing director and global tech sector head at Hedgeye. “Many of my clients are asking the same question.” The assessment comes as Anthropic faces renewed investor jitters over whether its massive AI... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3371504/why-anthropic-has-major-china-problem-ahead-its-blockbuster-ipo https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3371504/why-anthropic-has-major-china-problem-ahead-its-blockbuster-ipo Wed, 21 Oct 2026 00:00:15 +0000 Zoe SL Chan Zoe SL Chan Suzhou Dongshan Precision Manufacturing raised less than expected in its Hong Kong initial public offering (IPO), as investors weighed potential US trade restrictions on its optical modules business amid the city’s cautious appetite for mega listings, analysts said. The company has started taking investor orders for a Hong Kong listing, offering 113.7 million shares at a maximum price of HK$93.80 per share, according to its prospectus on Tuesday. A total of 20 cornerstone investors have agreed... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3371493/suzhou-dongshans-us18b-hong-kong-ipo-trails-expectations-amid-us-trade-risk-concerns https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3371493/suzhou-dongshans-us18b-hong-kong-ipo-trails-expectations-amid-us-trade-risk-concerns Tue, 20 Oct 2026 08:37:13 +0000 Iris Deng,Howard Liu Iris Deng,Howard Liu Chinese memory chip giant ChangXin Memory Technologies (CXMT) saw its shares fall more than 8 per cent in early Monday trading, despite forecasts of strong profits and plans for a share buy-back amid a global sector-wide market rout. CXMT shares dropped 7.8 per cent on Monday to close at 41.52 yuan. The company’s stock surged to a peak of 61.8 yuan in August – up as much as 614 per cent from its initial public offering price of 8.66 yuan in July – before paring back gains. The market reaction... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3371314/cxmt-forecasts-us198-billion-3-quarters-net-income-pledges-share-buy-back https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3371314/cxmt-forecasts-us198-billion-3-quarters-net-income-pledges-share-buy-back Sun, 18 Oct 2026 23:30:08 +0000 Zoe SL Chan Zoe SL Chan Hong Kong regulators’ tough action to crack down on fraudulent activity in the initial public offering market is sending ripples across the city’s financial industry, with insiders predicting short-term turbulence as some listings are scaled back or even cancelled. Financial intermediaries and IPO sponsors in particular find themselves in a “difficult position”, as they are now expected to conduct deeper due diligence to ensure deals are free from distortions, sources told the South China... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371074/hong-kongs-ipo-fraud-clampdown-sends-shock-waves-across-financial-sector https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371074/hong-kongs-ipo-fraud-clampdown-sends-shock-waves-across-financial-sector Fri, 16 Oct 2026 01:06:30 +0000 Howard Liu Howard Liu Yangtze Memory Technologies Corporation (YMTC), China’s leading flash-memory maker, is set to grow revenue six times faster than its industry peers this year as it expands into server-related business ahead of a planned initial public offering (IPO), according to Counterpoint Research. The company’s server-related revenue was effectively zero in 2024, but could account for nearly 39 per cent of its revenue by 2028, according to the market intelligence firm on Tuesday. Much of the momentum is... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3370871/chinese-memory-giant-ymtc-grow-revenue-6-times-faster-peers-ipo-nears-report https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3370871/chinese-memory-giant-ymtc-grow-revenue-6-times-faster-peers-ipo-nears-report Wed, 14 Oct 2026 11:00:10 +0000 Zoe SL Chan,Enoch Yiu Zoe SL Chan,Enoch Yiu Hong Kong’s securities watchdog has moved against two syndicates suspected of being involved in three alleged initial public offering fraud schemes involving assets worth HK$4.6 billion (US$590 million), according to a statement released on Tuesday. The Securities and Futures Commission (SFC) also announced on the same day that it had suspended 65 listing applications in the first nine months of this year due to the poor quality of their listing sponsors’ work, in what analysts viewed as an... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370697/hong-kong-watchdog-orders-suspension-third-stock-month https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370697/hong-kong-watchdog-orders-suspension-third-stock-month Tue, 13 Oct 2026 07:00:10 +0000 Zoe SL Chan Zoe SL Chan Shenzhen Transsion Holdings drew a lukewarm response for its HK$3.36 billion (US$428 million) Hong Kong share offering, heightening worries over market sentiment for new listings in the fourth quarter. The maker of Africa’s bestselling phones closed its bookbuilding on Monday, with preliminary figures showing the offering attracted about 14,000 applications and was oversubscribed roughly 3.5 times, according to people familiar with the matter. Retail participation in Hong Kong initial public... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370604/few-hong-kong-investors-take-interest-listing-africas-top-phone-maker-transsion https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370604/few-hong-kong-investors-take-interest-listing-africas-top-phone-maker-transsion Mon, 12 Oct 2026 10:03:02 +0000 Enoch Yiu Enoch Yiu Hong Kong would need to ease its listing rules and transaction requirements to attract more angel funds and become a hub for start-ups to go global, according to a leading industry body in the city. The city has only around 100 active angel funds – private investment vehicles targeting very early-stage innovative enterprises. This was far fewer than Shenzhen, which had about 400 such institutions, according to Samson Tam Wai-ho, honorary chairman of the Hong Kong Electronic Industries... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370419/hong-kong-must-ease-listing-rules-attract-more-angel-funds-and-start-ups-hkeia https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370419/hong-kong-must-ease-listing-rules-attract-more-angel-funds-and-start-ups-hkeia Mon, 12 Oct 2026 00:00:16 +0000 Yulu Ao Yulu Ao China’s investment banks spent decades trying to emulate Goldman Sachs, the Wall Street powerhouse that became a benchmark for the country’s financial ambitions and whose alumni included senior US policymakers like former Treasury secretary Henry Paulson. Today, Beijing’s goal has evolved beyond building a Chinese version of Goldman. At the Central Financial Work Conference in 2023, President Xi Jinping called for cultivating first-class investment institutions as part of China’s ambition to... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3370375/chinese-brokers-work-crack-final-code-win-clients-global-stage https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3370375/chinese-brokers-work-crack-final-code-win-clients-global-stage Sun, 11 Oct 2026 14:00:07 +0000 Zoe SL Chan Zoe SL Chan Exuberance among cornerstone investors in Hong Kong’s booming initial public offering (IPO) market seems to be fading, forcing some issuers that had hoped to list this month to postpone their offerings. With more than 60 per cent of new listings in the third quarter now trading below their issue prices, cornerstone investors – who typically receive guaranteed allocations in exchange for holding shares for six months – are reconsidering whether to subscribe to coming deals, according to people... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370173/hong-kong-ipo-boom-risk-cornerstone-backers-get-cold-feet-sources-say https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3370173/hong-kong-ipo-boom-risk-cornerstone-backers-get-cold-feet-sources-say Thu, 08 Oct 2026 08:11:07 +0000 Zoe SL Chan Zoe SL Chan Shenzhen Transsion Holdings has begun to take investor orders for its Hong Kong listing, with the maker of Africa’s bestselling phones offering 86.6 million shares at a maximum price of HK$38.8 per share, according to the company’s prospectus on Wednesday. The public offering will run from October 7 to 12, with the company expected to list on October 15, seeking to raise up to HK$3.36 billion (US$428.1 million). With the overallotment option, the deal size may grow to the equivalent of about... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3369908/chinas-transsion-africas-top-phone-maker-targets-us500-million-hong-kong-listing https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3369908/chinas-transsion-africas-top-phone-maker-targets-us500-million-hong-kong-listing Tue, 06 Oct 2026 08:28:07 +0000 Haining Gao Haining Gao – https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/banking-finance/article/3369852/hong-kongs-big-ipo-haul https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/banking-finance/article/3369852/hong-kongs-big-ipo-haul Tue, 06 Oct 2026 02:22:01 +0000 Zoe SL Chan Zoe SL Chan Private equity firms are moving to plug a commercial real estate funding gap as traditional banks pull back, with one fund filing to launch Hong Kong’s first listed property debt vehicle. Gaw Capital, a Hong Kong-based real estate private equity fund which managed US$35.6 billion in assets as of late 2025, filed to list its Gaw Capital Real Estate Private Debt OFC on Friday, seeking to become the first property-focused private debt fund on the Hong Kong stock exchange’s main board. The fund has... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369764/hong-kong-poised-first-listed-property-debt-fund-banks-pull-back https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369764/hong-kong-poised-first-listed-property-debt-fund-banks-pull-back Mon, 05 Oct 2026 06:03:24 +0000 Leopold Chen Leopold Chen Funds raised through initial public offerings in Hong Kong more than doubled year on year to over HK$388 billion (US$49.4 billion) in the first nine months of 2026, already surpassing the total amount for the whole of last year, Financial Secretary Paul Chan Mo-po has said. Adding to the positive outlook, Clara Chan Ka-chai, CEO of the government-owned Hong Kong Investment Corporation (HKIC), noted on Sunday that more than 30 of its portfolio firms were preparing to apply for Hong Kong listings... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3369688/hong-kongs-ipo-haul-more-doubles-hk388b-first-9-months-paul-chan https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3369688/hong-kongs-ipo-haul-more-doubles-hk388b-first-9-months-paul-chan Sun, 04 Oct 2026 06:22:57 +0000 Raymond Ma,Neil Denslow Raymond Ma,Neil Denslow Hong Kong stock debuts are losing steam as a deluge of initial public offerings (IPOs) overwhelms investor appetite. Seven of September’s 12 IPOs fell on the first day of trading, raising the third-quarter total to 15 flops out of 31, based on Bloomberg data. By contrast, there were only 14 declines among 77 debuts in the first half of the year. Medcaptain Medical Technology led September’s first-day flops, plunging 43 per cent. Fast-fashion giant Shein tumbled as much as 10 per cent on its... https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/banking-finance/article/3369567/hong-kong-ipos-falter-china-aids-homebuyers-eu-trade-talks https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/banking-finance/article/3369567/hong-kong-ipos-falter-china-aids-homebuyers-eu-trade-talks Fri, 02 Oct 2026 09:05:40 +0000 Zoe SL Chan,Enoch Yiu Zoe SL Chan,Enoch Yiu Funds raised through Hong Kong initial public offerings (IPOs) doubled in the first nine months of 2026, reaching the highest level for the period since records began in 1980. A total of 112 companies raised US$48.4 billion on Hong Kong’s main board during the first nine months, according to data released by LSEG Data & Analytics on Wednesday. A further two companies listed on the city’s Growth Enterprise Market (GEM). By deal count, the combined total of 114 new listings on the main board and... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369316/hong-kongs-ipo-haul-first-9-months-smashes-record-despite-nasdaqs-fundraising-lead https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369316/hong-kongs-ipo-haul-first-9-months-smashes-record-despite-nasdaqs-fundraising-lead Wed, 30 Sep 2026 08:00:27 +0000 Zoe SL Chan Zoe SL Chan Mainland China-based printed circuit board (PCB) maker Suzhou Dongshan Precision Manufacturing has cleared its final listing hurdle in Hong Kong and is moving towards a share sale that may rank among the city’s largest initial public offerings (IPOs) in the fourth quarter, according to people familiar with the matter. The company passed its listing hearing with bourse operator Hong Kong Exchanges and Clearing (HKEX) recently, the people said, requesting anonymity because the information was... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369299/mainland-chinas-pcb-giant-wins-hong-kong-approval-planned-us3b-listing-sources https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369299/mainland-chinas-pcb-giant-wins-hong-kong-approval-planned-us3b-listing-sources Wed, 30 Sep 2026 07:00:08 +0000 Zoe SL Chan Zoe SL Chan Hong Kong welcomed four companies to start trading on Tuesday after they raised a combined HK$14.4 billion (US$1.83 billion) – but three opened below their offer prices, adding pressure to an already sluggish month for initial public offerings (IPOs). Automated equipment manufacturer RoboTechnik Intelligent Technology was the largest company to make its debut, having raised HK$5.18 billion, but its shares closed 4.9 per cent lower at HK$414.4 (US$52.82) after dropping as much as 9.8 per... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369156/hong-kongs-ipo-revival-faces-test-three-new-stocks-stumble-debut https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369156/hong-kongs-ipo-revival-faces-test-three-new-stocks-stumble-debut Tue, 29 Sep 2026 07:00:10 +0000 Ann Cao Ann Cao Chinese chip foundry CanSemi Technology’s Shenzhen initial public offering (IPO) is emerging as one of mainland China’s most sought-after tech listings this year, as investors bet on its push into silicon photonics and its role in domestic artificial intelligence infrastructure. The Guangzhou-based company’s retail tranche was oversubscribed by more than 2,300 times after clawback, according to a stock exchange filing late on Sunday, as investors scrambled for a piece of the domestic... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3369074/chinese-chip-foundry-cansemis-ipo-oversubscribed-2360-times-investors-chase-ai-boom https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3369074/chinese-chip-foundry-cansemis-ipo-oversubscribed-2360-times-investors-chase-ai-boom Mon, 28 Sep 2026 11:30:11 +0000 Zoe SL Chan Zoe SL Chan Zhuhai Amicro Technology, a Xiaomi-backed chipmaker, is preparing to begin premarketing for a Hong Kong initial public offering (IPO) of more than US$100 million as early as this week, according to people familiar with the matter. The company passed its listing hearing with bourse operator Hong Kong Exchanges and Clearing (HKEX) last week, clearing the final regulatory hurdle for a share sale in the city, the people said, requesting anonymity because the information is private. According to... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3369017/xiaomi-backed-robotics-chip-designer-clears-hearing-eyes-us100m-hong-kong-ipo-sources https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3369017/xiaomi-backed-robotics-chip-designer-clears-hearing-eyes-us100m-hong-kong-ipo-sources Mon, 28 Sep 2026 05:14:07 +0000 Zoe SL Chan Zoe SL Chan Beijing Eswin Computing Technology will start soliciting orders from institutional and public investors on Monday ahead of its Hong Kong initial public offering (IPO), aiming to raise around US$300 million, according to people familiar with the matter. The Chinese chipmaker had already started gauging investor interest, with trading expected to start on October 8, said one of the people, who asked not to be identified due to the sensitivity of the issue. The Beijing-headquartered company had... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3368834/chinese-risc-v-chipmaker-eswin-seeks-us300m-hong-kong-ipo-ahead-october-debut https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3368834/chinese-risc-v-chipmaker-eswin-seeks-us300m-hong-kong-ipo-ahead-october-debut Fri, 25 Sep 2026 10:49:56 +0000 Zoe SL Chan,Enoch Yiu Zoe SL Chan,Enoch Yiu After Morgan Stanley’s leak of internal deal information in a client email, rival investment banks in Hong Kong are aggressively moving to poach clients dissatisfied with the breach, according to several people familiar with the matter. Competitors are actively approaching companies named in the leaked document to pitch for their business, two rival bankers said, asking not to be identified due to the sensitivity of the issue. An accidental disclosure of confidential information by a Morgan... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3368751/morgan-stanley-deal-leak-triggers-rival-poaching-security-warnings-hong-kong-banks https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3368751/morgan-stanley-deal-leak-triggers-rival-poaching-security-warnings-hong-kong-banks Fri, 25 Sep 2026 04:34:51 +0000 Zoe SL Chan Zoe SL Chan Beijing’s recent tightening of approvals for humanoid robot makers seeking initial public offerings (IPOs) poses no threat to companies with clear commercialisation strategies, as funding channels remain wide open for qualified players, according to Deloitte China. “Market funds are shifting from the ‘blind rush’ of the past to ‘fine screening’,” said Dick Kay, Deloitte China’s capital market services group national leader, at a press conference on Thursday. Investors and regulators now placed... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3368647/chinas-humanoid-robot-ipo-slowdown-no-threat-firms-genuine-strength-deloitte https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3368647/chinas-humanoid-robot-ipo-slowdown-no-threat-firms-genuine-strength-deloitte Thu, 24 Sep 2026 09:08:50 +0000 Enoch Yiu Enoch Yiu The inadvertent disclosure of confidential information by a Morgan Stanley employee this week alarmed Hong Kong’s banking industry, listed issuers and regulators, according to several sources familiar with the matter. An email sent by the Hong Kong-based employee on Tuesday afternoon included an attached file with details on more than 100 deals in the pipeline, including initial public offerings (IPOs), private equity arrangements, pension fund positions and other projects in Greater China,... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3368599/morgan-stanley-fat-finger-leak-confidential-deal-pipeline-sets-alarm-bells https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3368599/morgan-stanley-fat-finger-leak-confidential-deal-pipeline-sets-alarm-bells Thu, 24 Sep 2026 04:33:57 +0000 Zhang Shidong Zhang Shidong A more than 1,700 per cent share-price surge by a new listing on the Shanghai Stock Exchange last week put a spotlight on a state-owned industrial compressor manufacturer, leading the bourse operator to intervene to curb speculative trading. ShenGu Group, a maker of centrifugal compressors in northeast China’s Liaoning province, grabbed headlines when its stock soared 1,216 per cent from its offer price two days after it began trading on September 17, with an intraday high on the second day of... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3368595/1700-share-surge-chinese-state-owned-compressor-maker-exposes-risks-new-listings https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3368595/1700-share-surge-chinese-state-owned-compressor-maker-exposes-risks-new-listings Thu, 24 Sep 2026 04:02:26 +0000 Zoe SL Chan Zoe SL Chan Shenzhen Camsense Technologies, a maker of spatial sensors for robotic vacuum cleaners, launched a Hong Kong initial public offering (IPO) that aims to raise about HK$680 million (US$86.7 million), despite headwinds from Washington’s recent import ban on foreign-made vacuum robots. “The export and procurement for our existing client products remain normal, with potential disruption limited to new product development schedules,” Camsense co-founder Zhou Kun said about the ban’s impact. “We have... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3368466/chinese-maker-robot-vacuum-sensors-launches-hong-kong-ipo-undeterred-us-ban https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3368466/chinese-maker-robot-vacuum-sensors-launches-hong-kong-ipo-undeterred-us-ban Wed, 23 Sep 2026 05:00:09 +0000 Zoe SL Chan Zoe SL Chan Television maker Hisense Group Holdings’ optical communications unit made a steady debut in Hong Kong after raising HK$5.6 billion (US$714 million), adding momentum to a fresh wave of mainland Chinese conglomerates spinning off business units to tap overseas capital and support technology expansion. Shares of fibre-optic communications equipment maker Ligent Technologies jumped as much as 19.2 per cent on Tuesday morning, valuing the company at more than HK$35 billion. The stock pared early... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3368345/hisense-unit-leaps-hong-kong-debut-amid-rush-mainland-chinese-corporate-spin-offs https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3368345/hisense-unit-leaps-hong-kong-debut-amid-rush-mainland-chinese-corporate-spin-offs Tue, 22 Sep 2026 06:33:33 +0000 Enoch Yiu Enoch Yiu The Hong Kong stock exchange has proposed easing requirements for listed companies to disclose corporate transactions and seek shareholder approval, while also making it easier for issuers to spin off businesses, according to a consultation paper released on Monday. The 10-week consultation, which runs until November 30, proposes removing the profit test currently used to determine whether a transaction requires disclosure or shareholder approval. Companies would instead use market... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3368279/hong-kong-stock-exchange-moves-ease-spin-offs-and-shareholder-approval-rules https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3368279/hong-kong-stock-exchange-moves-ease-spin-offs-and-shareholder-approval-rules Mon, 21 Sep 2026 11:50:38 +0000 Zoe SL Chan Zoe SL Chan Four Chinese companies launched initial public offerings (IPOs) in Hong Kong on Monday, aiming to raise as much as HK$14 billion (US$1.8 billion) in total, with strong backing from cornerstone investors countering apparent weakness in the market so far this month. Automated equipment manufacturer RoboTechnik has the biggest target, planning to raise as much as HK$5.18 billion. The new entrants are braving a market that shows signs of slowing. After a blistering year so far – Hong Kong listings... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3368209/four-mainland-chinese-firms-jump-cooling-hong-kong-ipo-market https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3368209/four-mainland-chinese-firms-jump-cooling-hong-kong-ipo-market Mon, 21 Sep 2026 06:00:07 +0000 Zoe SL Chan Zoe SL Chan Mainland China’s stock exchanges have stepped up lobbying of companies and regulators to prioritise their boards for listings after Hong Kong stole their thunder in fundraising activities in recent years, according to two sources familiar with the matter. Figures from the exchanges recently met representatives of some mainland companies planning Hong Kong listings, especially first-time issuers and firms in sectors supported by national policies, a source said. “Exchanges emphasised the benefits... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3368149/mainland-chinas-stock-exchanges-mount-charm-offensive-amid-hong-kong-ipo-boom https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3368149/mainland-chinas-stock-exchanges-mount-charm-offensive-amid-hong-kong-ipo-boom Mon, 21 Sep 2026 01:00:10 +0000 Daisy Wu Daisy Wu Competition between mainland China and Hong Kong for hi-tech initial public offerings presents emerging technology firms with a dual-track strategic choice rather than a zero-sum battle, according to an executive at a national cross-border innovation platform. “There is naturally a degree of competition,” Lu Peng, general manager of Beijing-based Zhongguancun International, said in an interview on Thursday, referring to how tech firms select their primary listing venue. “However, the two markets... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3368029/chinas-hi-tech-ipos-its-hong-kong-vs-mainland-how-much-does-it-matter https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3368029/chinas-hi-tech-ipos-its-hong-kong-vs-mainland-how-much-does-it-matter Sun, 20 Sep 2026 23:00:11 +0000 Daisy Wu Daisy Wu Hong Kong is broadening its equity markets, deepening its offshore yuan business and expanding further into gold trading under its first five-year plan for economic and social development, as the city seeks to defend its standing as Asia’s top financial centre and close the gap with London. Unveiled on Wednesday by Chief Executive John Lee Ka-chiu alongside his 2026 policy address, the blueprint outlines a package of financial plans to “consolidate and enhance Hong Kong’s status as an... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367816/how-hong-kongs-new-5-year-plan-courts-global-capital-eye-market-dominance https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367816/how-hong-kongs-new-5-year-plan-courts-global-capital-eye-market-dominance Thu, 17 Sep 2026 07:00:09 +0000 Zoe SL Chan Zoe SL Chan Hong Kong aims to adjust listing rules to grab a share of initial public offerings by mainland China’s space companies, in line with Beijing’s priorities and heightened activity in the sector following the blockbuster June listing by Elon Musk’s SpaceX. That could lead to more head-to-head competition between the Hong Kong stock exchange and the Shanghai Stock Exchange, which is now drawing a majority of applications, including commercial space launch providers and reusable rocket makers CAS... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367810/hong-kong-support-rocket-satellite-ipos-spacex-led-sector-takes https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367810/hong-kong-support-rocket-satellite-ipos-spacex-led-sector-takes Thu, 17 Sep 2026 05:00:07 +0000 Ann Cao Ann Cao China is bracing for a potential massive sell-off of a high-profile artificial intelligence chip stock on Thursday, when a lock-up period affecting 14 million shares in MetaX Integrated Circuits is set to expire. Analysts expect MetaX to face “significant selling pressure” when the restricted shares are released for trading, after the expiry of a similar lock-up period for shares in fellow AI chip firm Moore Threads last week sparked an avalanche of sales that wiped nearly 49 billion yuan... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3367745/chinas-ai-chip-stocks-face-crucial-test-metax-lock-period-expires https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3367745/chinas-ai-chip-stocks-face-crucial-test-metax-lock-period-expires Wed, 16 Sep 2026 12:25:00 +0000 Zoe SL Chan Zoe SL Chan Securities regulators in Hong Kong and mainland China are doubling down on efforts to raise the quality of Hong Kong initial public offerings (IPOs), which could slow the flow of new listings but would not reduce underlying demand, according to analysts. In an unusual move, the China Securities Regulatory Commission recently asked nine mainland companies, which had already been pre-approved for listings, to provide supplementary materials detailing fund usage, shareholding structures and pending... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367616/tighter-scrutiny-hong-kong-ipos-could-slow-deal-flow-analysts-say https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367616/tighter-scrutiny-hong-kong-ipos-could-slow-deal-flow-analysts-say Tue, 15 Sep 2026 13:00:06 +0000 Zhang Shidong Zhang Shidong A more than 40 per cent slump in Chinese humanoid robot maker Unitree Robotics since listing has sounded regulatory caution for the industry, with speculation swirling that Beijing may tighten approval of the peer listings. The regulators would heighten scrutiny over humanoid makers seeking initial public offerings (IPOs) on the mainland’s exchanges, according to media reports. The sustainability of revenue growth, earnings prospects and applicants’ key capabilities of tech innovation would be... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3367545/unitrees-us30-billion-stock-wipe-spurs-regulatory-caution-humanoid-robot-ipos https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3367545/unitrees-us30-billion-stock-wipe-spurs-regulatory-caution-humanoid-robot-ipos Tue, 15 Sep 2026 06:02:12 +0000 Zoe SL Chan Zoe SL Chan Hong Kong’s younger generation of tycoons is becoming increasingly active in the city’s initial public offering market through family offices and private investments. But their investments extend beyond the property and traditional financial sectors associated with their predecessors, into technology and digital finance. Prominent business leaders Cheng Chi-heng of New World Development and Peter Lee Ka-kit of Henderson Land participated as cornerstone investors in Shenzhen Forms Syntron... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367464/forms-syntron-draws-hong-kongs-next-gen-tycoons-hk940-million-ipo https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367464/forms-syntron-draws-hong-kongs-next-gen-tycoons-hk940-million-ipo Mon, 14 Sep 2026 09:51:21 +0000 Coco Feng Coco Feng Shein Global Holdings saw its shares plummet to their lowest level since listing two weeks ago, falling as much as 10 per cent in Hong Kong trading on Monday, slammed by an “underperform” rating from Jefferies and product safety recalls in Australia and New Zealand. Shein closed down 9 per cent to HK$36.40 on Monday, the lowest since its September 1 debut on the Hong Kong stock exchange. The high-profile stock has been on a downward spiral and is now 25 per cent lower than its initial public... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3367453/shein-shares-drop-lowest-ipo-amid-underperform-rating-contact-lens-recall https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3367453/shein-shares-drop-lowest-ipo-amid-underperform-rating-contact-lens-recall Mon, 14 Sep 2026 09:18:22 +0000 Frank Chen Frank Chen The shipbuilding and maintenance arm of state-owned marine transport giant China Cosco Shipping has completed initial public offering (IPO) guidance registration, paving the way for a domestic listing to capitalise on a global shipbuilding boom. Cosco Shipping Heavy Industry finished its pre-IPO registration and preparations, according to information released on the China Securities Regulatory Commission website on Saturday. Specialising in cargo and container vessels, the unit offers... https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3367409/cosco-shipping-arm-readies-china-ipo-capitalise-global-shipbuilding-wave https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3367409/cosco-shipping-arm-readies-china-ipo-capitalise-global-shipbuilding-wave Mon, 14 Sep 2026 07:00:08 +0000 Zoe SL Chan Zoe SL Chan Hong Kong is intensifying efforts to attract technology start-ups and nurture unicorns through expanded financial support via a key government-backed platform, leveraging the city’s booming fundraising activities and world-class financial infrastructure. Investors are displaying an increased appetite for the local tech scene compared with a decade ago – a trend that Terry Wong Ping-sau, CEO of the Hong Kong Science and Technology Parks Corporation (HKSTP), said was a positive sign for the city’s... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3367351/hong-kong-aims-scale-its-tech-ecosystem-and-nurture-more-unicorns-hkstp-ceo https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3367351/hong-kong-aims-scale-its-tech-ecosystem-and-nurture-more-unicorns-hkstp-ceo Sun, 13 Sep 2026 23:00:11 +0000 Wency Chen,Ben Jiang Wency Chen,Ben Jiang Z.ai, the Chinese artificial intelligence model developer listed in Hong Kong, is seeking to raise about HK$15.7 billion (US$2 billion) through a placement of roughly 21.97 million new H shares at HK$714 apiece, according to a company filing on Sunday. The company also announced a 20.14 billion yuan (US$3 billion) convertible-bond sale, according to its filing with the Hong Kong stock exchange. Z.ai, also known as Zhipu AI, closed at HK$793 on Friday, down 73 per cent from its intraday high of... https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3367364/seeking-cash-ai-chinas-zai-eyes-new-us5b-fundraising-push-after-july-share-sale https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3367364/seeking-cash-ai-chinas-zai-eyes-new-us5b-fundraising-push-after-july-share-sale Sun, 13 Sep 2026 13:34:59 +0000 Howard Liu,Minxiao Chang,Ann Cao Howard Liu,Minxiao Chang,Ann Cao The US Federal Communications Commission (FCC) has published its final decision on updates to its equipment authorisation rules, easing market anxiety over potential bans on Chinese optical transceivers. The rule, adopted in July and finalised on Friday, tightens authorisation requirements for devices containing certain hardware components made by entities on the Covered List – a US blacklist of foreign technology equipment and service providers deemed to pose an unacceptable risk to national... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3367219/chinese-optical-transceiver-makers-dodge-us-ban-now-fcc-updates-rules https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3367219/chinese-optical-transceiver-makers-dodge-us-ban-now-fcc-updates-rules Fri, 11 Sep 2026 11:30:09 +0000 Jess Ma Jess Ma Kazakhstan’s businesses should prioritise long-term fundraising ambitions rather than quick wins in Hong Kong and mainland Chinese markets, a managing director of the Central Asian country’s sovereign wealth fund has said. Saltanat Satzhan, managing director for development and privatisation at Samruk-Kazyna, said she also aimed to have state-owned rail operator Kazakhstan Temir Zholy (KTZ) listed in Hong Kong by the end of the year. KTZ, wholly owned by the government through the fund, has... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3367134/kazakh-firms-eyeing-hong-kong-mainland-china-markets-urged-take-long-term-view https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3367134/kazakh-firms-eyeing-hong-kong-mainland-china-markets-urged-take-long-term-view Fri, 11 Sep 2026 04:00:10 +0000 Zoe SL Chan Zoe SL Chan Yuen Kee Food Group, the owner of well-known restaurant brand Yuen Kee Dumpling, has cleared its listing hearing with the Hong Kong Exchanges and Clearing (HKEX), aiming to raise between HK$300 million (US$38.3 million) and HK$400 million, according to people familiar with the matter. The conclusion of the hearing marked its initial public offering (IPO) plan entering its final stage, and the company planned to kick off the offering in October, the sources said, who asked not to be named because... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367133/yuen-kee-food-enters-final-stage-hong-kong-ipo-after-hkex-approval-sources-say https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367133/yuen-kee-food-enters-final-stage-hong-kong-ipo-after-hkex-approval-sources-say Fri, 11 Sep 2026 03:12:21 +0000 Ann Cao Ann Cao Enflame Technology, one of the major challengers to Nvidia in China, saw its share price surge 179 per cent in its Shanghai trading debut on Friday, giving the Tencent Holdings-backed artificial intelligence chipmaker a market capitalisation of 170.9 billion yuan (US$25.5 billion). The Shanghai-based company opened at 410 yuan, up from its issue price of 142.18 yuan. It surged as much as 234 per cent to 475 yuan during the day, before closing at 397 yuan. The performance reflects continued... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3367124/enflame-shares-soar-188-shanghai-debut-nvidia-challenger-taps-investor-fever-ai https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3367124/enflame-shares-soar-188-shanghai-debut-nvidia-challenger-taps-investor-fever-ai Fri, 11 Sep 2026 01:45:56 +0000