Ant Group IPO would give Hong Kong capital markets timely boost

HONG KONG (Reuters) – An initial public offering from Alibaba’s Ant Group by year-end would give equity capital markets in Hong Kong a timely boost after a new security law cast in doubt the city’s future as a global financial centre, analysts said on Thursday. The fall in value ranked Hong Kong as the fourth most active exchange after the Nasdaq, mainland China’s new Star Market and the Shanghai stock market. “Hong Kong investors don’t have that much opportunity to invest in these Chinese tech companies,” Hong told Reuters. “Seventy percent of the Hong Kong market is finance and property. Alibaba’s $12.9-billion secondary listing in Hong Kong last year generated almost $32 million in fees for banks, the company’s U.S. filings showed.

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