All articles tagged with #hong kong stock exchange
Shein disclosed plans for an IPO in Hong Kong valuing the company at about $27 billion, a sharp drop from its 2022 peak near $100 billion; the fast-fashion giant, which surged during Covid, posted a quarterly loss of about $99 million and faces headwinds from tariff policy shifts and market pressures that weigh on investor enthusiasm.
Shares of China Evergrande, once a leading real estate developer, were delisted from the Hong Kong Stock Exchange following court-ordered liquidation due to its failure to provide a viable debt restructuring plan. The company, heavily burdened with over $340 billion in debt, played a significant role in China's ongoing property market downturn, which has impacted the broader economy and led to construction suspensions and falling home prices. Despite efforts by Chinese authorities to stabilize the market, Evergrande's collapse highlights the deepening crisis in China's real estate sector.
China Evergrande, once a leading property developer, was delisted from the Hong Kong Stock Exchange as it continues to wind up over $340 billion in debts, marking a significant step in its collapse that has contributed to China's ongoing property market crisis and economic slowdown.
Alibaba's Hong Kong-listed shares dropped over 5% following reports of a potential $5 billion convertible bond sale, later confirmed at $4.5 billion. The proceeds will be used to repurchase American depositary shares. This move follows a challenging year for Alibaba, marked by a significant profit decline and corporate restructuring. The company aims to boost its core e-commerce sector and expand in AI and cloud services.
The planned share sale agreement between China Evergrande New Energy Vehicle Group and U.S.-listed NWTN has fallen through as the parties did not extend the long stop date. The deal, initially announced in August, involved Evergrande's EV arm issuing 6.18 billion new shares to NWTN for HK$3.89 billion. With the lapse of the agreement, the intended share and loan conversion subscriptions are no longer valid.
Chinese e-commerce giant Alibaba plans to list its logistics unit Cainiao on the Hong Kong Stock Exchange, as part of a larger restructuring effort. Alibaba will retain over 50% of the shares in Cainiao after the spinoff. This move marks the first official filing for an IPO among the six business units that Alibaba plans to separate. Details regarding share pricing and the listing date are yet to be disclosed.
JD.com plans to spin off its property and industrial units and list them on the Hong Kong stock exchange in deals worth $1 billion each. The company will continue to hold a stake of more than 50% in the units, JD Industrials and JD Property, upon completion of the proposed spin-off. The size and structure of the units' initial public offerings have not yet been finalised.