US blacklist casts pall over Chinese AI firms planning IPOs

The US’s announcement this week that it was putting a whole host of Chinese companies on its blacklist for alleged involvement in human rights abuses is set to hit some of them hard. One of the victims is artificial intelligence (AI) leader Megvii Technology, which has been working on a billion-dollar Hong Kong IPO that will now be a challenge. Jonathan Breen reports.

  • By Jonathan Breen
  • 10 Oct 2019
Megvii, best known for its facial recognition platform Face++, set the ball rolling for its long-touted IPO with a filing to the Hong Kong Stock Exchange at the end of August. It is eyeing $750m to $1bn from the listing and has  appointed bulge bracket firms Citi, Goldman ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 18.86
2 Industrial and Commercial Bank of China (ICBC) 14.39
3 China Merchants Bank Co 14.21
4 China Merchants Securities Co 8.85
5 Agricultural Bank of China (ABC) 5.90

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 China International Capital Corp Ltd 4.57 22 14.06%
2 China Securities Co Ltd 3.53 7 10.85%
3 Morgan Stanley 3.39 11 10.42%
4 CITIC Securities 2.99 10 9.20%
5 Citi 1.66 11 5.10%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 6.48 35 8.10%
2 HSBC 5.43 43 6.79%
3 BofA Securities 4.13 14 5.16%
4 UBS 3.94 22 4.92%
5 JPMorgan 3.90 24 4.88%

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