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Tag: listing

  • Luxshare Skyrockets, Raking in $3bn from Hong Kong Listing for AI and Auto Tech Expansion

    Luxshare Skyrockets, Raking in $3bn from Hong Kong Listing for AI and Auto Tech Expansion

    Luxshare Precision Industry, headquartered in China, announced on Tuesday that its Hong Kong listing has been priced at the upper limit of its target range, resulting in the raising of approximately HK$24.27 billion (US$3.09 billion).

    The Apple supplier, listed in Shenzhen, revealed the offer price was set at HK$63.28 per H-share, resulting in the sale of 383.5 million shares.

    Luxshare plans to use the proceeds from the listing to enhance its manufacturing capacity within the automotive and consumer electronics sectors. The raised capital will also be used to fund artificial intelligence-powered factory upgrades, facilitate potential acquisitions, repay existing debt, and bolster the firm’s working capital.

    A significant part of the raised funds will be dedicated to the expansion of Luxshare’s automotive electronics business. This is indicative of the firm’s strategic move beyond consumer electronics and into the rapidly expanding field of intelligent vehicle supply chain.

    Luxshare revealed that it anticipates announcing the level of investor demand for its international offering, as well as the allocation results, on July 8. The company’s shares are expected to commence trading on the Hong Kong Stock Exchange at 9:00am local time on July 9.

    Luxshare was founded by Chinese billionaire Wang Laichun and is counted among Apple’s largest suppliers. The firm is responsible for the manufacturing of a range of electronic devices, comprising routers, wireless charging modules, and video conferencing equipment.

    Questions & Answers

    What does Luxshare Precision Industry plan to do with the proceeds from its Hong Kong listing?
    Luxshare plans to use the raised capital to expand its manufacturing capacity, fund factory upgrades, pursue acquisitions, repay debt, and support working capital.

    How is the company expanding its business?
    Luxshare is looking to move beyond the sphere of consumer electronics and delve deeper into the rapidly growing intelligent vehicle supply chain.

    When does Luxshare plan to begin trading its shares?
    Trading of Luxshare’s shares is expected to begin on the Hong Kong Stock Exchange at 9:00am local time on July 9.

  • Singapore and Nasdaq Unite to Establish Groundbreaking Dual Listing Link: A New Era for Asian Equities

    Singapore and Nasdaq Unite to Establish Groundbreaking Dual Listing Link: A New Era for Asian Equities

    Singapore is extending and enriching its equities market through a new collaboration with Nasdaq for dual listings. The Monetary Authority of Singapore (MAS) has developed a dual listing conduit that links the Singapore Exchange (SGX) and Nasdaq in the United States, thereby creating a novel board, as per the latest announcement.

    The New Board

    The new board is anticipated to commence operations around mid-2026 and will have a focus on “top-tier Asian growth firms” that have a market capitalisation of S$2 billion ($1.5 billion) or higher. The primary objective is to facilitate firms that have “an Asian connection and worldwide objectives” to raise funds from investors in both markets.

    The two exchanges have suggested a number of measures, all of which are subject to regulatory procedures. These include the use of a single set of offering documents to minimize regulatory hurdles and costs. According to MAS, the new system will “offer a direct and harmonized route for businesses to simultaneously access capital and liquidity across North America and Asia.”

    Equities Market Review

    As part of a broader initiative being undertaken by the Equities Market Review Group, the new bridge has been established. The group has recently concluded its examination of the stock market and released a final report.

    Additional initiatives announced include the introduction of a S$30 million package designed to assist listed companies in unlocking shareholder value and deepening engagement. There will be appointments for a second batch of asset managers as part of the S$5 billion Equity Market Development Program (EQDP). The program will also see several enhancements, such as strengthening market making, modernizing post-trade custody, and reducing board lot size.

    The second batch of asset managers will be allocated S$2.85 billion. The group includes Amova Asset Management (previously known as Nikko Asset Management), AR Capital, BlackRock, Eastspring Investments (Singapore), Lion Global Investors, and Manulife Investment Management (Singapore).

    Questions & Answers

    What is the objective of the new board?
    The new board aims to facilitate “top-tier Asian growth firms” with a market capitalization of S$2 billion ($1.5 billion) or more to raise funds from investors in both the Singapore and US markets.

    What measures have been proposed by the two exchanges for the new board?
    The two exchanges have suggested a number of measures including the use of a single set of offering documents to help reduce regulatory hurdles and associated costs.

    What are some of the initiatives announced by the Equities Market Review Group?
    The Group has announced several initiatives including a S$30 million package to assist listed companies, appointment of a second batch of asset managers under the Equity Market Development Program (EQDP), and various enhancements to strengthen market making, modernize post-trade custody, and reduce board lot size.

  • Shein files for Hong Kong IPO to pressure London’s listing regulators

    Shein files for Hong Kong IPO to pressure London’s listing regulators

    Fast-fashion retailer, Shein, founded in China, has reportedly submitted an application for an initial public offering (IPO) in Hong Kong. This move has been interpreted as a strategic effort to expedite their listing process and to put pressure on the UK’s regulatory bodies to greenlight their proposed debut on the London Stock Exchange.

    Striving for Regulatory Approval

    Shein allegedly filed a preliminary prospectus privately with the Hong Kong exchange last week. It was also reported that they sought approval from the China Securities Regulatory Commission (CSRC). However, these reports have not been independently confirmed.

    The company’s attempts to list in Hong Kong are seen as a strategy to coax the UK regulator into relaxing its risk disclosure regulations. This is crucial for Shein as it keeps the possibility of what could be London’s most significant IPO in years, alive.

    Previous Attempts for Listing

    In June, it was reported that Shein had plans to file a draft prospectus confidentially for its Hong Kong listing. This followed reports from May suggesting that the retailer was moving towards a Hong Kong listing after failing to secure approval from Chinese regulators for a proposed London IPO.

    According to reports, the UK’s Financial Conduct Authority might still be Shein’s preferred exchange if it is willing to accept a CSRC-approved prospectus. However, the possibility of this happening appears to be slim due to a significant discrepancy in the requirements of the respective regulators.

    Questions & Answers

    Why is Shein filing an IPO in Hong Kong?
    Shein has filed for an IPO in Hong Kong as part of a strategic move to expedite their listing process and to pressure the UK’s regulatory bodies into approving its planned debut on the London Stock Exchange.

    What is the significance of the UK’s Financial Conduct Authority in Shein’s IPO?
    The UK’s Financial Conduct Authority could still be Shein’s preferred exchange if it accepts a CSRC-approved prospectus. However, it has been reported that the likelihood of this happening is low due to differing regulatory requirements.

    What were Shein’s previous attempts for listing?
    Previously, Shein had planned to file a draft prospectus confidentially for its Hong Kong listing. This was after its proposed London IPO failed to secure approval from Chinese regulators.

  • Chinese Automaker Geely Auto Scraps STAR Market Listing Plan

    Chinese Automaker Geely Auto Scraps STAR Market Listing Plan

    China’s Geely Automobile Holdings Ltd said on Friday it is dropping plans to list new shares on the mainland’s Nasdaq-like STAR Market.

    Zhejiang-based Geely Auto, China’s highest-profile automaker thanks to parent Zhejiang Geely Holding Group’s investments in Daimler AG and Volvo Cars, is listed in Hong Kong with a market capitalization of HK$255 billion ($32.85 billion).

    In September, Geely Auto said in a filing that it planned to raise 20 billion yuan ($3.10 billion) from the STAR Market listing.

    Geely Auto is aiming to sell over 1.5 million vehicles this year. It also said would seek external funding for its newly-launched electric Zeekr brand.

    In February, Geely Auto said it abandoned the merger plan with sister company Volvo Cars.

  • Netflix tests feature that helps members quickly find content they like

    Netflix tests feature that helps members quickly find content they like

    If the recommendations made to you by Netflix’s algorithms haven’t excited you in the past, there is good news on the way. Spotted first by a Twitter user named Jeff Higgins, the video streamer is currently testing a feature on iOS devices called Collections. Content is curated by Netflix’s team of experts and the titles are placed in different categories based on factors like genre, tone, storyline and character traits. Some of the different categories include “Dark & Devious TV Shows,” “Prizewinning Movie Picks,” “Watch, Gasp, Repeat,” “Let’s Keep it Light,” “Netflix Is a Joke,” and Women Who Rule the Screen.”

    Those iOS users chosen to test the new feature will find the option to use Collections in the upper right corner of the Netflix homepage where you would normally find “My List.” Tap on a collection category that you find appealing and the page expands to reveal thumbnails of the titles in that specific collection. Above those thumbnails, you’ll see an explanation of what this collection is all about. For example, tap on “Real & Riveting” and you’ll see that the titles in this group are documentaries such as Woodstock, and American Factory.

    “We’re always looking for new ways to connect our fans with titles we think they’ll love, so we’re testing out a new way to curate Netflix titles into collections on the Netflix iOS app,” a Netflix spokesperson confirmed to TechCrunch. “Our tests generally vary in how long they run for and in which countries they run in, and they may or may not become permanent features on our service.”-Netflix

    Netflix is under more competitive pressure than ever before. For example, take Disney+, expected to launch this November 12th. For $6.99 a month, subscribers can stream on four screens simultaneously, set up to seven user-profiles and view streaming content in 4K resolution at no extra charge. To get those features on Netflix, a subscriber would have to pay $15.99 a month.

    By offering Collections, Netflix hopes to provide recommended titles that its subscribers want to see. The more time its members stay on Netflix, the less they will feel the need to sign up for a rival streaming service. As the video streamer says on its iOS app, Collections is “an easy way to find shows and movies you’ll like.”
  • AllGoods marketplace reaches 1 million listings

    AllGoods marketplace reaches 1 million listings

    AllGoods, a free marketplace for Kiwi buyers and sellers, has announced it has reached its one-millionth listing, 12 months after launching.

    The TradeMe competitor said it has maintained steady growth over the past few months. Its app has also become the top New Zealand shopping app since it was released late last year, it said.

    “We’ve worked extremely hard over the past year to get where we are today,” said Levi Fawcett, AllGoods CEO. “We’ve talked with thousands of our users to make sure the platform provides a truly amazing buying and selling experience. Plus, it’s free.”

    The Christchurch-based startup said it already supports over 700 New Zealand businesses who sell through the online website and app. The company said it is their vision to use e-commerce as a sustainable means to support local businesses and give back to the community.

    “We’re offering a fresh spin on the classic online marketplace and while we have only just begun this journey, we look forward to the years to come,” Fawcett said.

    With Trade Me’s recent sale to British equity firm Apax Partners, AllGoods is now considered the largest Kiwi-owned marketplace in New Zealand.

    In October last year, AllGoods launched a new app for iOS and Android mobile devices.

    Features of the new app include easy listings and browsing, allowing users to post items in less than 30 seconds, and a built-in chat tab to get faster answers to questions on the site.

    “The team has tried to keep the platform as easy to use as possible, for both the everyday Kiwi and the average New Zealand business,” Fawcett said. “I think this has been fundamental to our success.”

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  • Vietnam Airlines eyes stock market listing in 2019

    Vietnam Airlines eyes stock market listing in 2019

    Vietnam Airlines plans to list its shares on the Ho Chi Minh City Stock Exchange next year amidst rising competition of low-cost carriers. “Vietnam Airlines will go public in the first quarter of next year,” its chief executive, Duong Tri Thanh said. “We are making our target the first quarter of next year, and I think it is feasible.”

    But he admitted the final decision rests with the government.

    The carrier’s shares are traded on Hanoi’s Unlisted Public Company Market (UPCoM) and it has a market capitalization of more than $2 billion.

    The government currently owns around 86 percent of Vietnam Airlines, but has said it wants to reduce this to 51 percent by 2020.

    The country’s largest airline by passengers carried now faces rising competition from budget carrier VietJet Aviation and others. Last month Vietjet became the second most valuable airline in Southeast Asia by market cap behind only Singapore Airlines.

    With the domestic market showing signs of saturation, Vietnam Airlines seeks to expand overseas. In October it started a daily service from central Da Nang City to Osaka City to add to the 70 weekly flights from Vietnam to Japan. In 2020 it plans to begin a direct service to the U.S.

    Vietjet launched a daily service from Hanoi to Osaka last month to take its total number of international routes to 64 in 11 countries. It plans to add two more routes to Japan by next month.

    Other airlines are also jostling for market share. Bamboo Airways, Vietnam’s newest airline, received a license last month and is set to make its maiden flight on December 29.

    Experts said the listing of Vietnam Airlines would allow it to compete with other carriers by attracting more investors.

    “This would be a major Vietnamese company joining the stock exchange, which would interest international investors and potentially enable Vietnam Airlines to raise funds more easily to compete with the likes of VietJet and Bamboo,” the Financial Times quoted Tony Foster, a partner at Hanoi law firm Freshfields, as saying.

    Vietnam’s international aviation market, driven by the rapid growth in tourism, has been expanding at more than 30 percent a year, according to the CAPA Centre for Aviation, an Australian consultancy.

    Vietnam welcomed 14.1 million international tourists from January to November, up 21.3 percent year-on-year, according to the General Statistics Office. As many as 11.4 million of them came by plane, up 15.3 percent, it added.

    Vietnamese carriers transported 45.1 million passengers between January and November, up 11.9 percent year-on-year, and 369.2 million tons of goods, up 18.6 percent, according to the General Statistics Office.

    There are five carriers in Vietnam: Vietnam Airlines, Vietjet Air, Bamboo Airways, Jetstar Pacific and VASCO. Vietnam Airlines owns VASCO and has a 70 percent stake in Jetstar Pacific.

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  • Vietjet gets approval for HOSE listing

    Vietjet gets approval for HOSE listing

    The HCM Stock Exchange (HOSE) has approved the listing of Vietjet Aviation Joint Stock Company’s 300 million shares on the southern bourse.

    The opening price of Vietjet’s shares is unknown. Vietjet on January 25 registered its 300 million shares with the Vietnam Securities Depository.

    According to Reuters, Vietjet Air has sold 44.8 million shares of current shareholders to institutional investors at VND84,600 per share, and 3.5 million shares to individual investors for VND86,500 per share.

    About 30 international corporations and investment funds have offered to purchase Vietjet’s shares, including Morgan Stanley, Mirae Asset, Dragon Capital and VinaCapital.

    According to a recent report by Vietnam Enterprise Investment Limited (VEIL) run by Dragon Capital, the investment fund on January 19 owned $43 million worth of Vietjet shares. Besides VEIL, HCM City Securities Corp (HSC) also spent VND134.5 billion to buy 1.6 million of the carrier’s shares.

    Shareholders of Vietjet Air have also approved the company’s proposal to issue more than 22.3 million shares to the Huong Duong Sunny Investment Co Ltd in 2017 at a price of VND84,600 per share.

    The share issuance will increase the aviation company’s chartered capital to VND3.22 trillion.

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