Shares of Guangzhou Innogen Pharmaceutical Group soared on their Hong Kong debut, buoyed by strong investor appetite for China’s pharmaceuticals sector, which has enjoyed rising valuations and solid performance. Trading under the stock code 2591, Innogen’s shares first changed hands at HK$72 on Friday, almost four times more than the initial public offering (IPO) price…
Sharp Chinese criticism of CK Hutchison Holdings’ sale of its port assets near the Panama Canal to a US-led consortium has thrown a potential wrench into the deal, with pressure piling up on the family of Hong Kong billionaire Li Ka-shing to rethink the divestment. Analysts said the deal was not final yet due to…
New World Development (NWD), controlled by one of Hong Kong’s richest families, warned it would report a loss of up to HK$6.8 billion (US$871 million) in its interim results to be announced next week, as weak property markets in Hong Kong and mainland China continue to present a tough operating environment for the developer. The…
Alibaba Group Holding raised US$5 billion from a multi-tranche dual-currency bond offering, the Chinese e-commerce giant said on Wednesday, an initiative that looks to enhance Hong Kong’s role as an international financial centre. The company’s latest bond offering reflects efforts by the mainland and Hong Kong to bolster the city’s financial standing, including its function…