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IPO

IPO
Latest news and analysis on initial public offerings (IPOs), with a particular focus on companies raising funds on the Hong Kong Stock Exchange.
last updated:
9 September, 2024
The absence of a robust series of funding escalators – from Series A to C, leading to trade sales or IPOs – risks producing numerous start-ups with innovative ideas but lacking commercially viable products. Photo: Shutterstock
Hong Kong economy

Opinion | Weakest link in Hong Kong’s tech ecosystem? Scale-up funding

With venture capital and IPO growth weak globally, start-ups should aggressively seek international commercialisation, leverage marketing strategies and connect with power players overseas.

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Mergers & Acquisitions

SPAC backed by Hong Kong investors readies US$150 million NYSE IPO

Ant Group

Chinese fintech giant Ant denies imminent restart of IPO process

HKEX

HKEX unveils reforms to boost Hong Kong’s IPO market so it can reclaim top spot

Changes to board representation and listing rules are aimed at making Hong Kong a more attractive listing destination, HKEX says.

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Hong Kong Exchanges and Clearing is the operator of the world’s fourth-largest stock market. Photo: Edmond So
Hong Kong Stock Exchange

Hong Kong IPO: actor Roger Kwok’s Herbs Generation ends up 10% on debut

The healthcare company’s shares were oversubscribed 6,083 times after they were priced at the low end of the range at HK$3.75.

Banking & finance

Chinese IPOs surge in Hong Kong as Minieye and Guming line up

The maker of autonomous-driving technology aims to raise US$100 million and the bubble-tea purveyor seeks up to US$500 million.

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E-commerce

Shein’s UK IPO slowed by challenge from Uygur NGO alleging Xinjiang cotton use

Britain’s Independent Anti-Slavery Commissioner has also raised concerns over allegations about the fast-fashion firm’s labour practices.

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Shein is facing hurdles in its pursuit of a London IPO in part because of allegations about its China sourcing and labour practices. Photo: Reuters
Banking & finance

Chinese soy sauce maker Foshan Haitian eyes dual listing in Hong Kong

The Foshan-based condiment maker’s board has given the go-ahead for the fundraising plan.

Banking & finance

Hong Kong’s IPO market revives on state backing after 3-year slump

The city has recorded US$10.7 billion of proceeds from 64 IPOs this year through November; more deals in December.

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Banking & finance

China pushes M&A to build 10 hi-tech firms to be globally competitive by 2027

The industries in question include integrated circuits, biopharmaceuticals and new materials.

The skyline of Shanghai. Photo: Xinhua
Banking & finance

Chinese cosmetics firm Mao Geping shines on Hong Kong debut as shares surge 70%

The IPO was the most popular in the city this year, with the retail tranche oversubscribed 918 times.

Chinese cosmetics firm Mao Geping made its trading debut in Hong Kong on Tuesday. Photo: Mia Castagnone
Electric & new energy vehicles

Chinese EV start-up Hozon eyes exports to ride out price war

The Shanghai-based EV maker aims to sell 50 per cent of its cars overseas by 2026 and turn a profit the same year, founder Fang Yunzhou says.

Banking & finance

Chinese cosmetics firm Mao Geping prices shares at top end of range ahead of IPO

Shares were priced at HK$29.80, according to exchange filings.

Retailing

C-beauty brand Mao Geping to debut in Hong Kong with US$270 million IPO

Namesake founder rose to prominence as a make-up artist who helped Liu Xiaoqing play an empress who aged from 15 to 80 years in a TV drama.

Mao Geping will be the first Chinese beauty brands to list on the Hong Kong stock exchange. Photo: Weibo/ Mao Geping
US-listed Chinese stocks

A Chinese recycling that aims to replicate its success overseas

The company, which operates an online platform connecting individuals and businesses with recycling services, plans to expand globally.

A Chinese labourer sorts out plastic bottles for recycling in Dong Xiao Kou village on the outskirts of Beijing. Photo: AFP
Banking & finance

Exclusive | Tencent-backed WeDoctor revives Hong Kong IPO plan, sources say

Healthcare platform plans to submit IPO application by end-December and complete fundraising of as much as US$500 million by June.

Autonomous vehicles

Chinese self-driving car firm Pony AI’s shares sink 7% after US IPO

Pony’s pricing was pushed back from last week as the firm increased the deal size and addressed regulator questions.

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Banking & finance

‘China’s FedEx’ delivers a lacklustre trading debut in Hong Kong

Shares of the Chinese courier firm SF Holding began trading at HK$34.30, unchanged from its IPO price.

Trading debut of SF Holding on the Hong Kong stock exchange on November 27, 2024. Photo: Mia Castagnone.
Hong Kong

Hong Kong to fast track mainland Chinese firms’ IPOs to revive market

Listing approvals for China’s onshore-listed companies will be streamlined provided they meet certain criteria, HKEX CEO Bonnie Chan says.

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Paul Chan

Hong Kong to boost financial reforms to aid Chinese firms: Paul Chan

Amid geopolitical tensions, city can help mainland firms that are struggling to raise funds abroad, financial secretary says.

Artificial intelligence

Uber said to eye US$10 million stake in IPO of China’s Pony AI

The ride-hailing giant may consider using Pony AI’s autonomous-driving technology outside the US, a source says.

Uber is in talks to invest in the US IPO of Chinese robotaxi firm Pony AI. Photo: dpa
Banking & finance

Hong Kong urged to boost capital flow with mainland for global market access

Former HKMA head Norman Chan says capital circulation is not as seamless as it used to be.

Norman Chan Tak-lam, the former CEO of the Hong Kong Monetary Authority. Photo: Xiaomei Chen
Hong Kong property

Could Hong Kong property tycoons’ backing lead to revival of IPOs?

Hong Kong billionaires are cornerstone investors in SF Holding’s US$793 million IPO, the first time tycoons have backed a listing in the city since 2022.

Banking & finance

Chinese courier giant seeks up to US$793 million from Hong Kong IPO

China’s largest express delivery company is selling 170 million shares at HK$32.30 to HK$36.30 each, with the listing to take place on November 27.

HKEX

Top bankers gather in Hong Kong for summit as regulators promise more reforms

Chinese Vice-Premier He Lifeng, who is bringing a huge delegation, will deliver a keynote speech.

CSRC Vice-Chairman Li Ming appears at the HKEX Connect Summit in Hong Kong on November 18, 2024. Photo: Jonathan Wong
HKEX

Saudi officials say firms in the Middle East are interested in listing in Hong Kong

Carlson Tong Ka-shing says Saudi Arabia and Hong Kong have established ‘trust and friendship’.

Carlson Tong Ka-shing, chairman of Hong Kong Exchanges and Clearing. Photo: Edmond So
Semiconductors

China’s chip start-up taking on Nvidia kicks off pre-IPO process

Moore Threads has hired Citic Securities to start the ‘tutoring’ process as it seeks to capitalise on enthusiasm in China’s semiconductor industry.

Semiconductors

China’s AI chip unicorn Moore Threads moves closer to possible IPO

The GPU and AI-accelerator start-up, founded by an Nvidia veteran, has become a joint-stock company after fresh investments.

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