Three Chinese firms, including AI software company Beijing Fourth Paradigm, are planning to raise a total of $280 million through initial public offerings (IPOs) in Hong Kong. Beijing Fourth Paradigm aims to raise $144 million by selling 18.4 million shares. New China Capital Management and other investors have subscribed for around $96.8 million worth of stock. Chinese cloud hospital platform Neusoft Xikang plans to raise $81 million to $101 million, while ZX Inc, a mobile games operator, aims to raise between $27 million and $34 million.
Insilico Medicine was valued at about $895 million after raising $95 million last July from the likes of leading Chinese healthcare-focused firm Qiming Venture Partners and billionaire Eduardo Saverin’s B Capital, among others.
Dalian Wanda Group, China's largest commercial property developer, has applied for a fourth time to list its management unit on the Hong Kong stock exchange. Zhuhai Wanda Commercial Management Group's latest application for an initial public offering (IPO) came on Wednesday night. Parent company Dalian Wanda owns 69.66 per cent of Zhuhai Wanda. The management unit's previous listing attempt - made in October 2022 - lapsed in April. Dalian Wanda, founded by Chinese tycoon Wang Jianlin, has submit
An improved macro environment is set to provide a leg up for Hong Kong’s beleaguered IPO market to help it remain one of the top three fundraising destinations in 2023.
Hong Kong's incentives to attract talent may be a step in the right direction, but the disappointment was palpable in the silence over when the border would be reopened.