Ke Holdings launches $2bn NYSE listing

new_york_stock_exchange_adobe_575x375.jpg
By Jonathan Breen
10 Aug 2020

Ke Holdings has kicked off bookbuilding for a $2bn US listing. But it has come as one of its largest shareholders, internet giant Tencent Holdings, was blindsided by the US with sanctions.

The issuer, which operates leading Chinese real estate platform Beike, launched its IPO late Friday in the US. President Donald Trump signed an executive order the day before, prohibiting certain transactions related to Tencent’s flagship app WeChat.

Despite vague language in the document, Tencent’s stock price fell 5.4% ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial