Page 4 - Jonathan Breen News Today

By Jonathan Breen 11 Mar 2021 Secondary listings in Hong Kong got a fresh boost this week with online car marketplace Autohome pricing its deal and internet giant Baidu getting ready to roll out its transaction. More homecomings by US-listed Chinese companies are in the pipeline, but the number of viable candidates is shrinking, writes Jonathan Breen. Ping An Group-backed Autohome wrapped up its Hong Kong listing on Tuesday, raising HK$5.34bn ($688.1m). The company already has American deposito...

Chinese internet company Baidu has filed updated offer documents for its Hong Kong secondary listing, the final step before it launches its potential multi-billion-dollar deal.

US-listed Autohome, an online car marketplace, has wrapped up its HK$5.34bn ($687.8m) secondary offering in Hong Kong, pricing the deal even as its US stock dived amid a market rout.

By Jonathan Breen 03 Mar 2021 Online car marketplace Autohome has launched the roadshow for a secondary listing in Hong Kong. The float of new and existing stock could raise up to HK$7.6bn ($983.2m). The Chinese company, which already trades on the New York Stock Exchange, is floating 30.3m ordinary shares on the HKEX. The firm’s largest shareholder is Yun Chen — a Cayman Islands-based special purpose vehicle and subsidiary of Ping An Group — which is selling 1...

Hong Kong is exploring the possibility of getting in on the craze around special purpose acquisition companies (Spac), which has begun to gain ground in Asia this year.

Malaysian rubber glove manufacturer Top Glove Corp is aiming to raise up to HK$14.95bn ($1.93bn) from a dual primary listing in Hong Kong.

Indiabulls Housing Finance has sold India’s first international convertible bond in more than a year, spurring interest from other companies struggling to raise funds in the country’s domestic market. But potential issuers will have to deal with a lot of regulatory hurdles, writes Jonathan Breen.

Indiabulls Housing Finance has brought a rare Indian convertible bond to the market, raising $150m after increasing the size of its debut offering.

SK Holdings pocketed W1.12tr ($1bn) from a block trade of SK Biopharmaceuticals, but the deal hit the South Korean drug company’s share price hard, sending it tumbling more than 17%.

L Catterton Asia Acquisition Corp, a special purpose acquisition company (Spac), is planning a $250m IPO, according to a filing with the US regulator.