Wuxi Sunlit Science and Technology plans Hong Kong listing

Wuxi Sunlit is seeking approval to start share trading in Hong Kong on November 11. Photo: Edward Wong

Thursday, 30 October, 2014, 11:32am

Proposed mainland rules may leave many junior accountants in Hong Kong jobless

Fewer Hong Kong accounting graduates will be hired by Big Four auditors if the proposed rules take effect. Photo: Edward Wong

Thousands of junior accountants in Hong Kong have reason to worry about their job security after the Ministry of Finance proposed new rules last week that would effectively ban the city's bean counters from working on the mainland.

20 May 2014 - 12:01am 11 comments

Retail investors wary of fresh flood of IPOs

Between 2010 and 2012, an IPO bonanza siphoned off more than a trillion yuan of capital from the mainland stock market. Photo: Reuters

When the China Securities Regulatory Commission resumed vetting applications for initial public offerings, the A-share market wobbled as investors feared an onslaught of new stocks would drain liquidity from the market.

7 May 2014 - 11:44pm

Alibaba seeks to reverse hi-tech apathy with mega-IPO

Co-founder Jack Ma owns nearly 9 per cent of Alibaba. Photo: Reuters

Mainland e-commerce powerhouse Alibaba has filed the paperwork for its landmark listing in the United States, with its immense size likely to guarantee that mutual fund managers and index trackers around the world swarm to add it to their portfolios.

8 May 2014 - 4:43am

Jobs website operator Zhaopin plans US$100m IPO in New York

Zhaopin.com was China’s second-largest online recruitment services provider by revenue last year. Photo: Zhaopin.com website

Chinese jobs website operator Zhaopin filed with US regulators to raise up to US$100 million in an initial public offering of American depositary shares.

Australia's Seek International Investments Pty - controlled by Seek Ltd, which provides online employment advertising, training courses and invests in online employment marketplaces -  holds 79 per cent of Zhaopin’s shares.

6 May 2014 - 10:02am

Big-name banks no guarantee for IPO success

WH Group was initially forced to cut the size of its share offering before it was eventually cancelled because of cool market response.

The failure of top mainland pork producer Shuanghui's US$6 billion initial public offering - once slated to be Asia's biggest this year - offers at least two lessons - never overestimate the power of investment banks and never just go for big names.

5 May 2014 - 6:54am 2 comments

29 investment banks, one failed US$6 billion IPO: Who is to blame?

29 investment banks, one failed US$6 billion IPO: Who is to blame?

Recriminations are flying between investment banks after a record 29 of them failed to avert the collapse of a US$6 billion deal to sell shares in Sino-US pork producer WH Group.

1 May 2014 - 10:34am 6 comments

Is the market reform a true 'win-win' for Shanghai and Hong Kong?

The scheme may be more about the relationship between the yuan as the mainland's official currency and the Hong Kong dollar.

On the mainland, the term "win-win" has been popular for quite some time, replacing the term "zero-sum" game we often heard during the Cold War era.

14 Apr 2014 - 7:51am 1 comment

Pork producer WH lowers IPO price range

Fresh capital raised in WH's listing could help pay down debt used to acquire US firm Smithfield Foods last year. Photo: ChinaFotoPress

WH Group, the Sino-US pork producer formerly known as Shuanghui International, is marketing its US$6 billion share sale in Hong Kong at a lower valuation than previously sought amid a tepid market, people familiar with the deal said.

3 Apr 2014 - 5:04am

After Citic, who’s next among Chinese state firms to take their mega deals to Hong Kong?

The lobby of Peace Hotel, owned by Jin Jiang International, which once considered listing through its Hong Kong unit. Photo: Bloomberg

Investors are keenly watching for the next state-owned enterprise to follow in the wake of Citic’s ground-breaking restructuring, in which Citic Pacific will mount a US$36 billion reverse takeover of its parent.

3 Apr 2014 - 4:57am

Shuanghui could soon salve Hong Kong bourse's wounds with its IPO

Shuanghui International's listing plans involve grouping all the company's assets under the new name of WH Group. Photo: ChinaFotoPress

Still licking its wounds from the loss of Alibaba's planned US$15 billion initial public offering, the Hong Kong stock exchange may find some consolation in the imminent listing of Shuanghui International, likely to be the city's biggest this year.

3 Apr 2014 - 6:57am

Pick me (and only me), Alibaba and JD.com told banks

JD.com has hired two banks to handle its initial public offering. Photo: Reuters

Top investment banks have been forced to choose between two important clients - bitter rivals Alibaba and JD.com the mainland's largest e-commerce firms.

Both companies are planning to list in New York.

21 Apr 2015 - 11:26am 2 comments

Why New Yorkers could pay for acceding to Alibaba's 'Open sesame'

While Hong Kong regulators stuck to their principles on "one share, one vote", New York is happy to oblige Alibaba. Photo: Reuters

To understand why New York capturing the title of world's greatest financial centre is no cause for celebration, look no further than the Alibaba IPO.

20 Mar 2014 - 1:28am

Paper cuts sharpest, says Alibaba's Jack Ma

Alibaba's chairman Jack Ma's push into internet finance has raised regulatory concern over risks from the new business. Photo: Xinhua

How do you defeat the country's No 1 e-commerce firm? It may not require any innovation in technology, just a piece of paper, says Jack Ma Yun, the founder and chairman of Alibaba.

As the central government steps up its efforts to crack down on the red-hot online finance sector - led by Alibaba and its rival Tencent - Ma could not remain silent any longer.

20 Mar 2014 - 12:53am 1 comment

Investors take up US$510m of Harbin Bank's IPO

Huang Liping

Harbin Bank, the first lender to go public in Hong Kong since China Everbright Bank listed in December, has lined up seven institutional investors to take up US$510 million of its US$1 billion initial public offering, people familiar with the deal said yesterday.

18 Mar 2014 - 1:29am