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Alibaba applies for one-to-eight stock split to seek flexibility in its ability to raise capital, attract new investors

Alibaba Group Holding, operator of the world’s largest e-commerce platform, has applied to split its ordinary shares, part of a move to increase the flexibility of its capital raising activities, including the issuing of new shares.The New York-listed Chinese e-commerce giant is proposing to split each of its ordinary shares into eight, according to a stock exchange filing. Under the changes, one American Depositary Share (ADS), which currently represents one ordinary share, will represent… Source link

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Vietnam 

VPBank officially applies Basel II – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Transactions at VPBank’s branch in Ha Noi. VPBank is one of the first banks in Viet Nam to meet Basel II standards. — VNS Photo HÀ NỘI — VPBank on Wednesday was officially given approval from the State Bank of Việt Nam to apply Basel II, becoming one of the first banks in Việt Nam to meet the standards. According to the decision, all of VPBank’s activities will start to follow Circular 41/2016-TT/NNNN from the beginning of next month. VPBank is one of 10 commercial banks which were selected to…

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CK Hutchison controlled biopharmaceutical company Chi-Med applies to list in Hong Kong

Hutchison China Meditech, or Chi-Med, a biopharmaceutical company specialising in cancer and immunological drugs controlled by Hong Kong conglomerate CK Hutchison Holdings, has applied to list on the city’s stock exchange through a flotation comprising Hong Kong and global offerings.CK Hutchison, which currently holds a majority 60.2 per cent stake, plans to reduce its shareholding to below 50 per cent, as this will allow the deconsolidation of Chi-Med numbers into its financial statements… Source link

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Shenzhen Transsion applies to raise capital on Shanghai’s technology board after taking Africa’s phone market by storm

Shenzhen Transsion Holdings, which makes three of every 10 smartphones sold in Africa, has thrown its hat into the ring to raise capital on Shanghai’s tech board via an initial public offering (IPO), becoming one of the first among China’s home-grown technology champions to kick off President Xi Jinping’s fundraising project.The company completed a three-month counselling period from December 2018 until March, during which an investment bank provided guidance and advice on the IPO applicant’s… Source link

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Singapore 

Tan Cheng Bock applies to form new Progress Singapore Party, Singapore News

SINGAPORE – Former presidential candidate Tan Cheng Bock has applied to form a new political party. In a Facebook post on Friday (Jan 18), Dr Tan said he and 11 “like-minded Singaporeans”, including former People’s Action Party (PAP) cadres, filed an application to the Registry of Societies to form the new Progress Singapore Party two days ago. He said the move was sparked by conversations he and his team had with Singaporeans from all walks of life over the years. “I felt a sense of duty to come forward and…

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Uber applies to raise capital in a 2019 initial public offering, in a race with its ride-hailing rival Lyft

Uber Technologies has filed paperwork for an initial public offering (IPO), according to three people with knowledge of the matter, taking a step closer to a key milestone for one of the most closely watched and controversial companies in Silicon Valley. The ride-hailing company filed the confidential paperwork on Thursday, one of the sources said, in lockstep with its smaller US rival Lyft, which also announced on Thursday it had filed for an IPO. The simultaneous filings extend the protracted battle between Uber and Lyft, which as fierce rivals have…

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