It posted a loss of 279.8 million yuan and revenue of 46.5 billion yuan for the first nine months of 2021, according to an updated listing prospectus filed with the Hong Kong exchange on December 24. The Nanjing-based company, which is backed by Alibaba Group Holding, this newspaper's owner, was reported to be planning to raise US$1 billion in an Hong Kong IPO.
The firm said in October that it did not have specific listing plans. The company was reported by Bloomberg as considering shifting its IPO to Hong Kong from the US, with the aim of raising at least US$500 million. The Shanghai-based company, which is backed by investors such as Singapore state investor Temasek Holdings, Tencent and Genesis Capital, has been valued at US$20 billion as of November 2021. Xiaohongshu, or Little Red Book, is a social e-commerce app known as China's answer to Instagram.
Photo: Getty Images alt=Xiaohongshu, or Little Red Book, is known as China's answer to Instagram. Xiaohongshu, or Little Red Book, is known as China's answer to Instagram. The Hangzhou-based EV firm, which is also backed by the Hangzhou government, had received 73,561 pre-orders and had delivered 44,013 vehicles, as of November 30, 2021. Sequoia Capital China-backed Leapmotor is working on a potential US$1 billion IPO in Hong Kong, according to Bloomberg. It reportedly planned to raise up to US$4 billion. The commercial property management arm of Chinese real estate tycoon Wang Jianlin's Dalian Wanda Group, had a valuation of US$28 billion, according to a preliminary listing document posted on the website of Hong Kong's stock exchange in October 2021. The company was reportedly targeting between US$5 billion and US$7 billion in what was set to be Hong Kong's biggest IPO in 2021. Its net loss dropped year on year by 20 per cent to US$129.6 million. The firm, which had a market capitalisation of US$50.39 billion as of December 31, 2021, reported 116.6 per cent growth in total revenue to US$1.52 billion for the third quarter of last year. Its plans hit a roadblock in October when it did not receive approval, with US regulators raising questions about potential risks associated with the Chinese government extending its authority over Hong Kong-based firms.įor the nine months ending in September, the value of FWD's new business grew 36 per cent year on year to US$511 million, while its earnings totalled US$131 million. The insurer was aiming to raise up to US$3 billion in New York in September in an IPO that would value the group at US$13 billion. Here are 15 potential IPOs to keep an eye out for: Among these are candidates that delayed their IPOs because of uncertain market sentiment in 2021. It expected about 120 new listings in Hong Kong to raise about HK$330 billion (US$42.3 billion) in 2022.
In 2022, analysts expect the Hong Kong IPO market to be less frenzied and more balanced, as geopolitical issues and China's tightening grip on technology and property companies continue to be of concern.Ī new listing regime for overseas issuers should boost dual-primary and secondary IPOs by US-listed China concept stocks, while the Special Purpose Acquisition Company (SPAC) regime should draw some listings by de-SPAC targets, Deloitte China said. While Chinese AI champion SenseTime surprised investors with an outperformance, 96 IPOs or more than 70 per cent of Hong Kong debutants in 2021 saw their stock prices trade below their issue prices towards the end of the year. Most Hong Kong listings in 2021 ended the year below their IPO price
0 kommentar(er)
