Hong Kong is celebrating a prominent year of listing, despite political turmoil and the derailment of the world’s largest initial public offering.
On Wednesday, the telemedicine division of Chinese e-commerce giant JD.com Inc. launched an IPO of over $ 3 billion in Hong Kong. Trading by JD Health International Inc. helps to raise revenue from Hong Kong’s IPO and secondary listing to the highest level in 10 years, even after the sudden suspension of Ant Group Co.’s blockbuster listing earlier this month I will.
Tensions between Beijing and Washington, China’s imposition of a new national security law in Hong Kong in June, and the Trump administration’s attempt to ban U.S. investors from holding shares. Despite the complexity of the city’s capital markets, it continues to withdraw funds from investors around the world for some Chinese companies.
Hong Kong is a preferred listing location for many Chinese companies, including technology and healthcare start-ups, with dozens of IPOs from China this year. It also hosts several secondary listings by Chinese companies trading in the United States.
Beijing-based JD Health began taking orders for $ 3.1 billion to $ 3.5 billion IPOs on Wednesday, according to a term sheet seen by The Wall Street Journal. According to Refinitiv, this will be Hong Kong’s largest IPO this year due to the lagging list of Ants.
JD Health IPO joins Hale and Hearty Hong Kong market
Source link JD Health IPO joins Hale and Hearty Hong Kong market