China International Capital Corp
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Sogou, the internet search arm of US-listed Sohu.com, has kicked off bookbuilding for a $585m IPO on the New York Stock Exchange. -
China Literature’s IPO in Hong Kong, set to raise up to HK$8.3bn ($1.1bn), has been hotly received by investors. Books were well oversubscribed with no price sensitivity at the range given, said a banker at one of the leads.
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Tencent-backed China Literature has kicked off bookbuilding for a Hong Kong IPO that could raise up to HK$8.32bn ($1.07bn), according to a term sheet seen by GlobalCapital Asia.
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Baidu has picked banks to list its video streaming arm in the US, as a host of Chinese issuers stormed into Wall Street this week for their IPOs.
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Qudian priced its $900m US float above the initial range this week, then soared as much as 48% on its debut, underscoring investors’ ravenous appetite for Chinese fintech stocks.
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China Literature, the e-book subsidiary of Chinese tech firm Tencent, is on track for a red-hot IPO after shadow orders immediately flooded in during pre-marketing. Some smaller companies have already delayed their IPOs to avoid being eclipsed by a deal that looks sure to dominate discussion in the coming weeks. Jonathan Breen reports.
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China Grand Automative Services Co, a car dealership, is readying a return to the international debt market, hiring two banks for a senior perpetual bond.
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Chinese micro-lender Qudian has bagged $900m from its US listing, after robust demand allowed it to price the stock above the initial range, according to a banker close to the deal.
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Sogou, the internet search arm of US-listed Sohu.com, has filed for a $600m IPO on the New York Stock Exchange.
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A trio of Asian firms listing in the US have received stellar responses to their IPOs, with Qudian, Rise Education and Sea all getting the thumbs-up from investors.
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CICC has lost one of its equity capital markets bankers in Hong Kong, according to sources close to the move.
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Asian investors have piled into Qudian’s IPO on the New York Stock Exchange, with the $825m fundraising heavily oversubscribed even before it begins roadshows in the US, said bankers.
