Tag: ipo

HSBC’s interest rate change follows similar moves by rivals. On January 31, Bank of China (Hong Kong) raised its rate up to 4 per cent for normal savers. “Banks are offering savers higher rates because offshore yuan liquidity in Hong Kong, and also ... ( read original story ...)

From giant cats to tumbling skyscrapers, the commercials are slick and surreal, but the gloss masks the fact that the offerings are closer to payday loans than structured finance, which remains largely the preserve of Hong Kong’s many banks. Over the ... ( read original story ...)

Technology and financial shares powered a rebound in Hong Kong stocks on Tuesday, spurred on by a recovery in US markets despite thin trading volume ahead of the upcoming Lunar New Year holiday. The benchmark Hang Seng Index climbed 379.9 points, or 1.29 ... ( read original story ...)

HONG KONG (Reuters) - A unit of China’s HNA Group [HNAIR.UL], the cash-starved aviation-to-financial services conglomerate, said on Tuesday it was selling two Hong Kong sites to Henderson Land Development Co Ltd (0012.HK) for HK$16 billion ($2 billion). ( read original story ...)

Hong Kong’s biggest banks are increasingly locking mortgage rates to lure customers from upstart rivals in the world’s least affordable housing market, where borrowing costs are soon expected to rise. HSBC Holdings Plc and BOC Hong Kong (Holdings ... ( read original story ...)

Two years later, Lei and his team concluded 2017 with a surprising comeback. Underlining its global ambitions, Xiaomi is seeking to list in Hong Kong in 2018. The IPO is valued at US$100 billion – around a price to earnings ratio of 60. Its sister ... ( read original story ...)

The banking industry has undergone rapid change in recent years with the rise of virtual currency, fintech and digital innovation challenging the status quo. One of the key developments emerging in the last couple of years is the concept of Open ... ( read original story ...)

Some updates include: Banks, financial institutions and technology companies may apply to own and operate a virtual bank in Hong Kong. Virtual banks should play an active role in promoting financial inclusion in delivering their banking services. ( read original story ...)

Joint Electronic Teller Services Limited (“JETCO”) today announced the launch of JETCO Pay Merchant Payment service jointly with eight banks, including Bank of Communications (Hong Kong), Bank of East Asia, Chong Hing Bank, Dah Sing Bank, ICBC (Asia ... ( read original story ...)

Hong Kong’s cryptocurrency exchanges have been warned that regulators are watching them closely after investors complained of practices ranging from market manipulation to misappropriation of assets. The Securities and Futures Commission said it has sent ... ( read original story ...)

Jetco Pay adds new merchant payment service supported by eight banks — Jetco — “Jetco today announced the launch of Jetco Pay Merchant Payment service jointly with eight banks, including Bank of Communications (Hong Kong), Bank of East Asia ... ( read original story ...)

... principles which the HKMA will take into account in deciding whether to authorize virtual banks to conduct banking business in Hong Kong. As defined in the revised guideline, a “virtual bank” refers to a bank which delivers retail banking ... ( read original story ...)

Following China’s “One Belt and One Road” strategy for outward expansion, financial conglomerate Freeman FinTech Corp. Ltd. is exploring investment opportunities in the Philippines especially in the field of banking. Officials of the Hong Kong Stock ... ( read original story ...)

Hang Seng Bank today launched a one-year fixed-rate mortgage promotion that offers a one-year fixed mortgage rate of 1.68% per annum. The subsequent mortgage rate will be the Hong Kong InterBank Offered Rate (HIBOR) plus 1.3% per annum, capped at Prime ... ( read original story ...)