Tencent and Alibaba-backed ZKH Industrial Supply, which operates an industrial products e-commerce platform, has been given the go-ahead by Beijing to move forward with its initial public offering (IPO) in the US, reports the South China Morning Post. Founded in Shanghai in 1998, ZKH aims to raise $300 million to $500 million from its public […]
Category: Markets
Shanghai, China’s financial hub, announced a two-stage city lockdown on Sunday in order to test the city’s inhabitants for COVID-19 over a nine-day period, reports Nikkei Asia. The announcement comes after the city reported a record number of asymptomatic infections. Authorities said they would divide Shanghai into two for the exercise, using the Huangpu River […]
Chinese twitter-like social media platform Weibo has been placed among a group of stocks facing delisting from US exchanges by the US Securities and Exchange Commission, increasing the number of Chinese firms flagged for failing to meet financial disclosure requirements, reports Nikkei Asia. Nasdaq-listed Weibo becomes the sixth Chinese corporation cited by the SEC for […]
JD Logistics, a subsidiary of Chinese internet giant JD.com, is pricing its issue of new shares at $2.65 each to raise $1.09 billion, according to a Friday filing with the Hong Kong Stock Exchange, reports Reuters. The deal consists of a placement of about $700 million worth of shares to its parent company JD.com and […]
A group of Chinese regulators have told several of the country’s US-listed companies, including JD.com, Baidu and Alibaba, to be ready for further audit disclosures, as Beijing increases efforts to ensure domestic companies remain listed in New York, reports Reuters. According to Reuters’ sources, this comes as China’s regulators are considering a proposal to allow […]