10 January 2020

Capital Markets

  • The WeWork IPO fiasco has led to doubts about the prospects of other firms in the same industry, including China's Ucommune. Representational image: Bloomberg

    Ucommune finds US investment bank to work on IPO: report

    Jan 10, 2020 2:59pm
    Ucommune, a Beijing-based shared workspace provider, has tapped a little-known US investment bank to help launch its initial public offering, Reuters reports, citing people familiar with the matter. The move came after Citigroup and Credit Suisse...
  • Megvii, known for its facial recognition platform Face++, is aiming to be the first Chinese AI firm to go public. Photo: Bloomberg

    Chinese AI firm Megvii gets nod for Hong Kong IPO: report

    Jan 7, 2020 10:09am
    Chinese artificial intelligence (AI) firm Megvii’s plans for a US$500 million Hong Kong initial public offering (IPO) are back on track as the firm’s application has been cleared by the stock exchange, according to Reuters. A...
  • US stock markets rose as fresh economic stimulus from China added to investors' optimism fueled by easing trade tensions and an improving global outlook. Photo: Reuters

    Wall Street starts 2020 with record highs

    Jan 3, 2020 7:31am
    Wall Street’s major indexes notched record highs to open the new year on Thursday as fresh economic stimulus from China added to optimism fueled by easing trade tensions and an improving global outlook. China’s central bank...
  • Stock Connect, which began operating last year, was seen as a major step by China to open up its capital markets as well as linking them globally. Photo: AFP

    China halts British stock link over political tensions: report

    Jan 2, 2020 4:03pm
    China has temporarily blocked planned cross-border listings between the Shanghai and London stock exchanges because of political tensions with Britain, five sources told Reuters. Suspending the Shanghai-London Stock Connect scheme casts a shadow over the future...
  • China is taking steps to streamline listing procedures for firms eager to go public. Photo: Bloomberg

    China sets out move to liberalize IPO rules

    Dec 30, 2019 9:24am
    China will gradually liberalize rules governing initial public offerings (IPOs), expanding a simple registration-based route to market rather than the current system of pre-approval by regulators, Reuters reports, citing an amended Securities Law that was approved...
  • Cooling US-China trade tensions have fueled the latest leg of Wall Street’s record-setting rally. Photo: Reuters

    Global stock index at new high; Nasdaq tops 9,000 for 1st time

    Dec 27, 2019 9:05am
    A gauge of global equity markets and Wall Street’s three major indices finished at all-time highs on Thursday as a year-end rally advanced further on optimism over a US-China trade pact, Reuters reports. MSCI’s gauge of...
  • JD Logistics is said to be preparing for an IPO as it seeks funds for expansion of its infrastructure facilities, among other plans. Photo: Bloomberg’s logistics unit eyes potential US$8-10 bln IPO: report

    Dec 24, 2019 10:24am
    JD Logistics, a unit of Chinese e-commerce giant, has held early talks with banks about a potential overseas IPO that could raise US$8-10 billion, Reuters reports, citing people with knowledge of the matter. JD Logistics...
  • US Treasury Secretary Steven Mnuchin told CNBC that the trade deal had already been put down on paper and translated, and it would not be subject to renegotiation. Photo: Reuters

    Wall St resumes rally after Mnuchin says trade deal to be signed

    Dec 20, 2019 7:25am
    Wall Street’s major indexes resumed their rally with fresh records on Thursday as US Treasury Secretary Steven Mnuchin said an initial US-China trade deal would be signed in early January, Reuters reports. The benchmark S&P 500...
  • Amin H. Nasser, President and CEO of Aramco, attends the official ceremony marking the debut of the Saudi oil giant on the Riyadh stock market on Wednesday. Photo: Aramco website/Handout via Reuters

    Aramco briefly hits US$2 trln market value on 2nd trading day

    Dec 12, 2019 4:54pm
    Saudi Aramco’s shares opened up 10 percent in their second day of trading in Riyadh on Thursday, briefly sending the state oil firm’s market value above the US$2 trillion mark, Reuters reports. The shares hit 38.7...
  • Officials attend a ceremony marking the debut of Saudi Aramco's initial public offering on the Riyadh's stock market, in Riyadh, Saudi Arabia, on Wednesday. Photo: Reuters

    Saudi Aramco shares jump 10% on stock market debut

    Dec 11, 2019 4:37pm
    Saudi Aramco shares surged the maximum permitted 10 percent above their initial public offering (IPO) price on their Riyadh stock market debut on Wednesday, closing in on the US$2 trillion valuation long sought by Saudi Crown...
  • Mainland investors see opportunities to buy on the dip when the overall appetite for risk is dampened and valuations of Hong Kong stocks hover near three-year lows. Photo: AFP

    Mainland investors defy HK protests in hunt for bargain stocks

    Dec 6, 2019 12:32pm
    Chinese investors more than doubled their Hong Kong stock purchases this year, braving market headwinds from violent street protests and the protracted Sino-US trade war, which have battered the city’s economy, Reuters reports. Data from the...
  • Saudi Aramco raised US$25.6 billion in its initial public offering, beating Alibaba's record US$25 billion listing in 2014. Photo: Reuters

    Aramco prices shares at top of range in world’s biggest IPO

    Dec 6, 2019 9:16am
    State-owned oil giant Saudi Aramco’s initial public offering (IPO) will be the biggest in history, but will fall short of the towering US$2 trillion valuation long sought by Crown Prince Mohammed bin Salman. Aramco priced its...
  • Hong Kong stock exchange is set to see its first REIT listing since December 2014. Photo: Bloomberg

    China Merchants breaks five-year REIT listing drought for HK

    Nov 29, 2019 9:50am
    Hong Kong is set to welcome its first listing of a real estate investment trust in five years, with the China Merchants Commercial REIT seeking to raise up to US$400 million, Reuters reports. The REIT, which...
  • Alibaba’s Hong Kong stock is due to start trading next Tuesday. Photo: AFP

    Alibaba to pay banks up to US$32.3 mln in fees for HK listing

    Nov 21, 2019 7:50am
    Alibaba Group Holding Ltd. will pay its investment banking syndicate up to US$32.3 million for leading its Hong Kong listing which will raise up to US$12.9 billion, Reuters reports, citing documents filed with US securities regulators....
  • Eight Hong Kong shares will be equal to one of Alibaba’s New York-listed American depositary shares. Photo: AFP

    Alibaba will raise up to US$12.9 billion in HK listing: report

    Nov 20, 2019 7:32am
    Chinese e-commerce giant Alibaba will raise up to US$12.9 billion in its Hong Kong secondary listing, pricing its shares at a 2.8 percent discount to their last closing price in New York, Reuters reports, citing two...
  • Saudi Aramco plans to sell 1.5 percent of the company, or about 3 billion shares, at an indicative price range of 30 riyals to 32 riyals, valuing the initial public offering at as much as 96 billion riyals (US$25.6 billion). Photo: Reuters

    Aramco in race for IPO record with US$1.7 trillion top value

    Nov 18, 2019 8:05am
    Saudi Aramco is worth up to US$1.7 trillion at the price range set by the oil giant on Sunday, below the US$2 trillion sought by Saudi’s crown prince but putting it in the running to become...
  • Hong Kong will remain a major financial center as it has undertaken 'many encouraging' reforms in its capital market, Alibaba Group chairman Daniel Zhang said. Photo: Reuters

    HK’s future ‘remains bright’, Alibaba says amid stock offering

    Nov 15, 2019 11:43am
    Hong Kong’s “future is bright” as a top financial center, Alibaba Group Chairman Daniel Zhang said, as the Chinese ecommerce giant kicked off the retail campaign for its secondary listing in the city.? In the chairman’s...
  • Alibaba's share offering in Hong Kong would be the world’s biggest cross-border secondary listing. Photo: Reuters

    Alibaba set to launch US$13.4 billion HK share sale: report

    Nov 13, 2019 6:49pm
    Chinese e-commerce giant Alibaba Group is poised to launch a Hong Kong share sale expected to raise up to US$13.4 billion as soon as Thursday, Reuters reports, citing two sources with knowledge of the discussions. The...
  • Bankers think the long-awaited IPO will value Aramco around US$1.5 trillion. Photo: Reuters

    Aramco prospectus flags risks, gives few details on IPO size

    Nov 11, 2019 7:45am
    Saudi state oil giant Aramco will sell up to 0.5 percent of its shares to individual retail investors and will be restricted from issuing additional shares for a year after the initial public offering, Reuters reports,...
  • Alibaba's offering in Hong Kong will be the world’s biggest-ever cross-border secondary listing, according to Dealogic data. Photo: Reuters

    Alibaba to launch US$15 billion HK listing this month: report

    Nov 8, 2019 3:47pm
    Alibaba Group Holding Ltd. plans to launch a Hong Kong share offering to raise US$10 billion to US$15 billion in the final week of November, two people with direct knowledge of the matter told Reuters. The...