Tag: ipo

Moody’s downgraded The Hongkong and Shanghai Banking Corp’s long-term issuer rating to double A three (Aa3) to double A two (Aa2). The agency said that “rises in corporate and/or household leverage in recent years in major markets for the bank ... ( read original story ...)

STX Entertainment may be edging closer to an initial public offering on the Hong Kong Stock Exchange, early in 2018. The company could raise $500 million of fresh capital and achieve a valuation of $3.5 billion, according to a report by the Wall Street ... ( read original story ...)

HONG KONG (Reuters Breakingviews) - Chinese online insurer ZhongAn soared in its trading debut on Thursday. The runaway success of this deal undermines the Hong Kong stock exchange’s push for a third board with looser listing terms to lure more ... ( read original story ...)

CK Hutchison Holdings (0001) and Ant Financial Services Group, an affiliate of Alibaba Group, are forming a strategic partnership to offer digital payment services in Hong Kong. Hong Kong tycoon Li Ka-shing’s conglomerate CK Hutchison Holdings and Jack ... ( read original story ...)

HONG KONG—STX Entertainment, a young Hollywood studio behind the “Bad Moms” movie and the upcoming “The Foreigner,” is planning to raise around $500 million in an initial public offering that could value the company at $3.5 billion, according to ... ( read original story ...)

HONG KONG (Reuters) - A bill giving the Financial Reporting Council (FRC) full responsibility for auditors will be put to Hong Kong’s Legislative Council (LegCo) before the end of 2017, the regulator’s chief executive said on Tuesday. The move is among ... ( read original story ...)

Ant Financial, the Alibaba affiliate that operates payment service Alipay and other digital finance products, has continued its Asia expansion with a move into Hong Kong. Alipay and Alibaba’s MyBank digital bank dominate in China, where they are used by ... ( read original story ...)

BOC Hong Kong eased 0.13 percent and Sands China, Lenovo Group and China Life were unchanged. The lead from Wall Street is inconclusive as stocks were lackluster on Tuesday, lingering near the unchanged line before closing mixed. The Dow dipped 11.77 ... ( read original story ...)

HONG KONG and HANGZHOU - 26 September 2017 - CK Hutchison Holdings ("CK Hutchison"), a multinational conglomerate spanning over 50 countries, and Ant Financial Services Group ("Ant Financial"), a leading global technology and financial services company and ... ( read original story ...)

The UK Financial Conduct Authority (FCA) has completed a hat trick of FinTech cooperation agreements with Hong Kong regulators by signing an agreement with the Hong Kong Insurance Authority (IA). This adds to those agreements already signed by the FCA ... ( read original story ...)

The Belt and Road, together with the upcoming Expo 2020 Dubai, is expected to boost demand for trade, logistics, infrastructure, real estate and financial services in the UAE. Hong Kong and mainland companies can help fill the need by providing services ... ( read original story ...)

In credit risk you can expect a 15% to 20% pay rise if you move to a new bank. “Credit risk has seen a steady flow of openings throughout the year in Hong Kong,” says Leung. “But it’s still an employer-driven job market. Banks are willing to take ... ( read original story ...)

BEIJING (Reuters) - Ant Financial, the payment affiliate of Alibaba Group Holding Ltd, said it will create a joint venture this year with CK Hutchison Holdings Ltd to operate its payment app in Hong Kong, ending Ant’s solo management of the service. ( read original story ...)

BOC said that all profits will be donated to a local charity after deducting costs. Citizens aged 18 or above with a valid Hong Kong ID may register for the commemorative banknotes through the BOC website or at its branches between Sept. 28 and Oct. 18 ... ( read original story ...)