Category: FINANCE

HONG KONG (Reuters) - Two Chinese biotechs have axed plans to list in New York and instead aim to raise up to $800 million in Hong Kong IPOs, seeking to cash in on new rules to woo early-stage drug developers, sources said. Fidelity Investments-backed ... ( read original story ...)

I feel that several assertions in Steven Vines’ column about the Spotify IPO need to be corrected (“Spotify’s IPO was a success. Never mind that it’s a loss-making company”, April 18). First, the concept of a “DIY listing” or, as it’s ... ( read original story ...)

Hong Kong stocks fell on Wednesday, tracking a rout in US equities roiled by a sell-off in technology companies and rising bond yields. The Hang Seng Index dropped by 1 ... the prospect that China’s central bank will loosen monetary policies. ( read original story ...)

ACRO Biomedical, a Taiwan-based developer of skin, bone and cornea graft materials, plans to restructure via a reverse takeover and seek an initial public share offer in Hong Kong so that it can tap into the mainland China market. The company, based in ... ( read original story ...)

Hong Kong conglomerate Goldin Financial Holdings plans to sell two pieces of land in the city’s Ho Man Tin area worth HK$12.4 billion (US$1.6 billion) to mainland billionaire Pan Sutong, who is also the company’s chairman. The company’s shares jumped ... ( read original story ...)

Other likely candidates include smartphone maker Xiaomi Corp., Alibaba affiliate Ant Financial Services Group and Lufax, the peer-to-peer lending unit of Ping An Insurance (Group) Co. Those three between them could add $300 billion to Hong Kong’s market ... ( read original story ...)

Blockchain is at the core of the Bank of China Hong Kong (BOCHK) operation, with almost all of its real estate appraisals now done via this technology. Company officials say this is part of a concerted foray into financial technology (fintech) and smart ... ( read original story ...)