Japan's SBI Holdings first to sell HDRs in Hong Kong

The internet-based financial services and investment company is looking to raise up to $327 million from a Hong Kong listing through depositary receipts.

Japan's SBI Holdings first to sell HDRs in Hong Kong

SBI Holdings, a Japanese internet-based financial services group, is looking to raise up to HK$2.55 billion $327 million from the first ever sale of Hong Kong depositary receipts. The company, which kicked off its institutional roadshow on Monday and will open the retail offering today, is not the first company to list HDRs, but since Brazilian iron ore producer Vale listed its HDRs through an introduction and didn’t issue any new shares, this will be...

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