Financial Services
Iceland biotech firm mulls US$350m pre-IPO fundraising
Iceland biotech firm mulls US$350m pre-IPO fundraising
Alvotech’s potential IPO is another win for Hong Kong bourse which recently liberalised its listing regime.
Alibaba sells medical assets to Hong Kong arm for $10.6b
Alibaba Health Information Technology will control the Tmall and adult products business.
Chinese drug developer Shenogen tapping banks for $300m IPO
The company is the latest to take advantage of relaxed listing rules.
Xiaomi guns for June 7 blockbuster IPO hearing
The much-anticipated public debut could raise as much as $10b.
The world watches as China's payment giants barge into Hong Kong
Banks have reason to fear as Alipay and WeChat Pay continues to expand their foothold.
Lower investments loom as private debt swells 228.7% of GDP in Q3
The weakness of the HKD may prompt corporates to debt servicing instead.
Hong Kong loses to Singapore in managing the assets of the world's wealthy
However, a growing preference of China’s HNWI for closer wealth managers is fast narrowing the gap.
Xiaomi IPO to make millionaires out of rank and file workers
Fifty six employees who pooled money to fund the startup in 2010 can make 200-fold return.
Insurance tax bill gazetted
It enables a tax deduction for residents buying health insurance under the VHIS.
Property developer to default on dollar bonds amidst rising borrowing costs
Hsin Chong Group’s inability to pay its debt mimics Noble Group's insolvency situation.
Citigroup fined $57m for IPO sponsor failures
The SFC slammed Citi’s ‘inadequate and substandard’ due diligence work on Real Gold’s flotation.
Tax amendment bill passed
It aims to implement tax measures proposed in the 2018/19 budget speech.
HKMA purchases $9.5b in HKD to defend flailing currency peg
The central bank has spent a total of $62.41b to protect its currency system.
Can back-to-back blockbuster IPOs live up to the hype?
Despite being oversubscribed, shares of tech startups have struggled to deliver on their promise.
Bitcoin mining hardware firm files for $1b IPO in Hong Kong's first cryptocurrency flotation
Canaan Inc accounts for about 15% of the global bitcoin mining chip market.
Hang Seng Bank rolls out AI chatbot for business banking
The virtual assistant BERI will be available on the bank’s website and mobile app.
Can Hong Kong steal the wealth manager crown from Switzerland?
The banking secrecy capital's dominance has been on a steady decline since 2010.
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