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20 Mar Chinese payment provider LianLian DigiTech files US$78 million Hong Kong IPO, less than a fifth of its target a year ago

Posted at 02:31h in Asia

LianLian DigiTech is seeking HK$612 million (US$78 million) in an initial public offering (IPO) in Hong Kong this week, a fraction of the US$500 million it had originally sought to raise in June 2023 as market conditions continue to dampen investor sentiment.The Hangzhou-based company is...

15 Mar China vows to tighten IPO rules, clamp down on excesses to sustain a rebound in US$9.2 trillion stock market

Posted at 10:04h in Asia

China is tightening the screws on new domestic stock offerings, laying out some of the harshest rules, checks and balances and penalties yet for fake accounting, a move that could slow approvals and fees at the nation’s brokerages and investment banks.The government will control the...

EY: no ‘significant bounce-back’ in M&A activity even though private equity is still ‘very positive’ about China; Japan, India to lead regional rebound

12 Mar EY: no ‘significant bounce-back’ in M&A activity even though private equity is still ‘very positive’ about China; Japan, India to lead regional rebound

Posted at 23:30h in Asia

Mergers and acquisitions (M&A) activity in the Asia-Pacific region is expected to bounce back by around 10 per cent in the second half of this year after a lacklustre 2023, with India and Japan likely to emerge as winners, Yew-Poh Mak, Asia-Pacific strategy and transactions...

09 Mar Stress and despair: new year, old wounds for Hong Kong bankers with IPO market in slump and windfalls elude investors

Posted at 02:00h in Asia

Wall Street investment banks have seen some significant lay-offs. Goldman Sachs’ headcount fell 7 per cent globally in 2023, while Morgan Stanley and Bank of America reported a 2 to 3 per cent drop. Those who managed to retain their jobs have suffered a 40...

08 Mar Hong Kong sees uptick in IPO applications year to date with interest rates poised to decline, HKEX CEO says

Posted at 11:13h in Asia

Hong Kong has received 30 per cent more applications for initial public offerings (IPO) year to date than in the same period a year ago, as more start-ups seek to raise capital with interest rates poised to decline, indicating a turnaround in the market.“We have...

07 Mar TikTok owner ByteDance offers to buy back shares from employees at 7 per cent premium over previous round

Posted at 10:30h in Asia

ByteDance, China’s most valuable unicorn and the owner of TikTok, has started a new round of share buy-backs for its global employees that price the equity higher than the previous round, according to two people familiar with the matter.The Beijing-based company has offered to purchase...

01 Mar Who is Bonnie Chan, the first woman CEO of Hong Kong stock exchange operator HKEX? What challenges does she face?

Posted at 00:30h in Asia

Here is what you need to know about the first woman to serve as CEO at the local stock market, which began operations in 1891.Screens show stock prices outside Exchange Square in Hong Kong’s Central district, the home of bourse operator Hong Kong Exchanges and...

29 Feb HKEX, Hong Kong’s stock market operator, reports 18% gain in 2023 earnings as CEO Aguzin exits after choppy 3 years

Posted at 04:29h in Asia

Hong Kong Exchanges and Clearing (HKEX), which operates Asia’s third-largest stock exchange, said earnings jumped last year by the most since 2020 on the back of a surge in investment income and derivatives trading as CEO Nicolas Aguzin ends his tenure after a tumultuous three...

27 Feb Zhida, a Chinese maker of EV charging systems, is weighing US$128 million Hong Kong IPO this year, source says

Posted at 03:31h in Asia

Shanghai Zhida Technology Development, a maker of electric-vehicle charging systems, is considering an initial public offering (IPO) in Hong Kong that could raise about HK$1 billion (US$128 million), according to a person with knowledge of the matter.The Chinese company is working with Shenwan Hongyuan Group...

China stock market: CSRC denies it is planning to inspect a decade of financial reports as part of clean-up, says fraud prevention a ‘continuous process’

23 Feb China stock market: CSRC denies it is planning to inspect a decade of financial reports as part of clean-up, says fraud prevention a ‘continuous process’

Posted at 12:20h in Asia

The China Securities Regulatory Commission (CSRC) on Friday denied reports that it is planning to inspect a decade of financial data from companies listed in China, days after it vowed to tighten the screws on the stock market and promote high-quality growth.The commission does not...

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