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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 Shanghai-based maker of Ultraman and Transformer figurines attracted huge demand in its stock offering. Photo: Handout
Hong Kong stock market

Toymaker Bloks jumps 82% in Hong Kong stock debut after sizzling IPO deal

Demand from Hong Kong retail investors was 6,000 times more than the amount of shares allocated to them, the second highest on record.

Indonesia

Hong Kong makes overture to Indonesian companies to raise capital

Banking & finance

BrainAurora shares rise 3.4% in Hong Kong debut as city eyes IPO crown in 2025

Hong Kong economy

Editorial | Hong Kong braces for an IPO revival after ringing in necessary changes

Reforms, mainland China support and easing of interest rate environment raise hopes of comeback by Hong Kong bourse.

People walk by Hong Kong Exchanges and Clearing Limited in Central. Photo: May Tse
Stocks

Smithfield Foods, the US pork giant owned by WH Group, eyes Nasdaq listing

The Chinese company took Smithfield private in a US$4.7 billion deal in 2013, terminating its 14-year listing on the NYSE.

HKEX

Hong Kong exchange’s IPO reforms would draw more listings, bankers say

HKEX proposals on public float and allocation requirements would help city draw more listings, institutional investors, UBS says.

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Stocks

Chinese fast-food chain LXJ seeks IPO in Hong Kong amid market revival

LXJ operates 1,404 restaurants across 53 mainland cities, serving meals costing about 20 yuan (US$2.73) on average.

Chinese fast food chain operator LXJ International is joining a revival in IPO market in Hong Kong. Photo: Weibo/ @ Lao Xiang Ji
E-commerce

UK lawmakers summon Shein and Temu for questioning over labour practices

Both online retailers have faced allegations of poor working practices at product factories in China and of forced labour in supply chains.

Alibaba

Alibaba’s Freshippo records 9 straight months of profit, CEO says

The grocery chain has hit a profitability milestone this year, according to CEO Yan Xiaolei, who assumed the role in March.

Banking & finance

Chery adds JPMorgan to arrange US$1 billion Hong Kong listing

The company may seek a valuation of more than 100 billion yuan (US$14 billion ), people familiar with the matter have said.

Omoda E5 electric cars manufactured by Chinese automaker Chery are unloaded from a cargo ship at the Royal Portbury Dock, near Bristol in southwestern Britain on September 5, 2024. Photo: Reuters
Banking & finance

Tencent-backed WeDoctor revives plan for Hong Kong fundraising

Earlier this month, sources said the company expected to raise US$400 million to US$500 million.

Wedoctor’s head office in Hangzhou. Photo: Handout
Banking & finance

Better year expected for IPO bankers as Hong Kong reclaims top 10 global ranking

EV battery maker CATL and condiment producer Foshan Haitian are among mainland industry champions seeking a listing in Hong Kong in 2025.

Hong Kong stock market

Busy day for Hong Kong’s IPO market as 3 companies start trading

The last time the Hong Kong exchange had three new listings on the same day was July 10.

Banking & finance

World’s largest EV battery maker plans Hong Kong IPO to fund global growth

The Shenzhen-listed battery maker’s share issuance plan is pending approval from regulators and shareholders.

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Contemporary Amperex Technology is the world’s largest EV battery maker, accounting for nearly 37 per cent of the global market. Photo: Reuters
Banking & finance

Hong Kong’s 2025 IPO boom awaits as policies and rates align, bankers say

Deloitte forecasts Hong Kong IPO volume to surge 71 per cent to US$19.3 billion in 2025, which has been collating the city’s IPO data since 2011.

Chinese companies’ secondary listings are likely to contribute significantly to fundraising in Hong Kong in 2025. Photo: Winson Wong
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

The SPAC is managed and backed by executives from Pacific Aegis Capital Management, Gobi Partners and Hermitage Capital.

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Ant Group

Chinese fintech giant Ant denies imminent restart of IPO process

Amid rife speculation, the company says it has no current plans to go public or pursue a back-door listing.

An Ant Group building in Hangzhou, China. Photo: Shutterstock
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 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.

Customers wait for their orders at a Guming (Good Me) store on August 14, 2021 in Fuzhou, Fujian province. Photo: Getty Images
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.

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