Cornerstone investors in the tech firm's listing include Hillhouse Investment Management, Taikang Life Insurance and Grab; net proceeds were $514m and the firm's valuation climbed above $4.6bn on its September 16 debut.
A core product for Type 2 diabetes is expected to commercially launch in mainland China by the end of this year, subject to regulatory approval; CICC led the transaction.
Japan finds itself at an inflection point, with equities finally back up to 1990 levels, and inflation on the rise after decades of deflation. But impending policy decisions by the Bank of Japan (BOJ) will test the market’s resilience.
Beijing’s new proposal to allow US-listed companies to use an external auditor eases tensions with Washington, while dual primary listings in Hong Kong provide better trading and liquidity conditions.
Chinese indices have delivered mixed results this year, with mainland bourses outperforming their offshore counterparts. As Beijing’s regulatory oversight tightens, there is little reason to believe that this trend will change.
Amid new challenges for Chinese companies planning to go public overseas, Hong Kong’s draw as a listing venue becomes more appealing, but any rush to raise money is unlikely to happen, just yet.
Amid the implementation of new trading rules and access to cheaper financing, increasing numbers of public companies in Hong Kong are choosing to delist or privatise even as bourse rules allow unprofitable companies to go public.