Page 7 - Jonathan Breen News Today

By Jonathan Breen 17 Dec 2020 US-listed Chinese companies have raised more than $12bn from equity investors in the past month, with iQiyi becoming the latest to simultaneously sell a convertible bond and price a follow-on offering of its American depositary shares. With valuations soaring for many of these stocks, bankers expect more issuers to jump into the market in 2021, writes Jonathan Breen. Streaming platform iQiyi launched its combo fundraising on Tuesday duri...

By Jonathan Breen 11 Dec 2020 Nio has launched a US follow-on offering that could raise up to $2.71bn, becoming the third Chinese electric vehicle (EV) maker to tap the equity market in less than two weeks. The Tencent Holdings-backed issuer, the first of China’s EV companies to list in the US, is selling 60m of its New York Stock Exchange-listed American depository shares (ADS). Each ADS represents one of the firm’s class A ordinary shares.Joint underwriters CICC and Morgan Stanley opened ...