Shares of companies that enjoyed the highest demand during the IPO on the stock exchange in Hong Kong, showed the most significant decline, Bloomberg reports. Thus, the demand for Ping An Healthcare & Technology shares in May was 650 times higher than the offer, and Ascletis Pharma's offer was 10 times lower than the demand. For the period from IPO to the present, the value of the securities of the first company fell by 37%, the second one - by 44%. At the same time, stocks of companies which IPOs have caused much less interest show growth. Bloomberg gives an example of a 35% increase in shares of pharmaceutical company Innovent Biologics, the demand for which during the IPO exceeded the supply by only 10%.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
The dollar firmed on Thursday as a decline in Chinese retail sales worried investors, while the rest of the market anticipates the EU summit this weekend. The euro was down 0.1% to $1.1401, while the dollar stood at 106.95 on the yen. The ...