Xiaomi Sees Weak IPO Debut In Hong Kong

Chinese smartphone maker Xiaomi had a soft debut at the Hong Kong Stock Exchange this morning as shares began trading at HK$16.6, 2.4% below its listing price (HK$17) which was already at the bottom of the range.

Tencent-backed E-commerce Platform Pinduoduo Files For $1B US IPO

Walnut Street Group Holding Ltd., which operates Chinese e-commerce platform Pinduoduo, seeks for a US$1 billion initial public offering in the U.S., according to its IPO prospectus. The document confirms Pinduoduo’s IPO rumour reported by China Money Network earlier this week. Founded in 2015 by former Google software engineer Colin Huang, Pinduoduo allows users to participate in group buying deals, mostly through Tencent’s WeChat. It targets low-income consumers from lower-tiered cities in China. In 2017, its gross merchandise value (GMV) …

Xiaomi Brings In Cornerstone Investors Amid IPO Downsizing And Delays

Chinese smartphone and electronics company Xiaomi Inc. has secured several cornerstone investors including Qualcomm, China Merchants Capital, China Mobile and SF Express for its initial public offering that could raise as much as US$6.1 billion, according to Chinese media citing insiders.

foxconn US

Alibaba, Tencent And Baidu Invest In Foxconn Unit’s $4.3B IPO

China’s internet giant trio Alibaba Group Holding, Tencent Holdings Ltd, and Baidu Inc, known as the BAT, have joined some prominent state-owned investors to pick up stakes in Foxconn Industrial Internet Co.’s RMB27.1 billion (US$4.3 billion) initial public offering.

What We Learned From Canaan’s Hong Kong IPO Prospectus

Canaan Inc., the world’s second largest Bitcoin mining machine manufacturer, is the first to file an IPO prospectus for a public listing. Therefore, its security filing is an interesting read, providing a rare look into an industry that is still often shrouded in secrecy.

Chinese Biotech Firm Ascletis First To File For Hong Kong IPO Under New Listing Rules

Ascletis Pharma, a Hangzhou-based biotechnology firm, has filed to list on the Hong Kong Stock Exchange, making it the first company to exploit the new and more accommodating listing rules in the city, an IPO prospectus published by the Hong Kong Stock Exchange showed. Ascletis Pharma Inc. focuses on three therapeutic areas: anti-viral, cancer and fatty liver diseases. It operates an integrated anti-viral platform focused on developing and commercializing innovative drugs against HCV, HIV and HBV. Currently, the company operates …