Full Truck Alliance has put its potential $1 billion listing on the Hong Kong stock exchange on hold due to an ongoing cybersecurity investigation, reports Reuters. China’s ‘Uber for trucks,’ backed by investors including SoftBank’s Vision Fund and Tencent and known as Manbang in China, has been planning a dual primary listing in Hong Kong […]
Category: Investment
Hengda Real Estate Group, the embattled property developer China Evergrande Group’s main unit, announced it had received a six-month extension on a RMB 574 million ($88 million) coupon payment for an onshore bond due this week, reports Reuters. It is the latest of several payment extensions for Evergrande’s onshore bonds. Struggling with more than $300 billion […]
The Tencent and GAC Group-backed ride-sharing platform Ruqi Mobility, has conducted a Series A funding round that raised over RMB 1 billion ($152.6 million) to push forward the commercialization of its robotaxi service, reports Nikkei Asia. The funding round was led by existing backer GAC, a traditional automaker that is boosting its presence in autonomous […]
Ryan Thall, a former partner at Goldman Sachs is steering his hedge fund firm away from investments in China due to the current struggles of the country’s economy. Beijing has placed restrictions on credit in the property sector and the country’s current battle with Covid-related lockdowns is also having a negative financial effect, reports Bloomberg. […]
The lack of initial public offerings due to China’s corporate crackdowns and covid-related issues has placed Hong Kong Exchanges & Clearing Ltd among the worst-performing listed bourses globally this year, reports Caixin. The exchange’s shares have retreated about 28% in 2022, just behind those of Moscow’s bourse and cryptocurrency platform Coinbase Global Inc. The HKEX is […]