Home 

Shanghai approves IPO applications by nine pioneers on Nasdaq-style tech board

Shanghai’s upcoming Technology Innovation Board on Friday green lit the initial public offering applications of nine technology companies. The board, ordered by Chinese President Xi Jinping in November, began accepting listing documents on Monday and allowed the firms to proceed with their application process after a five-day review process. The board, a Nasdaq-style market, also started a countdown to its trading debut, with regulators expecting to launch it in mid-2019. The companies given… Source link

Read More
Home 

Top venture capitalists, bankers land key role in deciding China’s tech board IPOs

Some of China’s most well-known venture capitalists and bankers could play a key advisory role in picking companies on the upcoming Nasdaq-style technology board in Shanghai.The Shanghai Stock Exchange published on Wednesday night two separate lists with names of candidates for the “listing and consultative committees” for the tech board.The two committees consist of 48 candidates each.Neil Shen Nanpeng, the founder and managing partner of Sequoia Capital China; Zhang Lei, CEO of Hillhouse… Source link

Read More
Home 

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

Read More
Vietnam 

VinaCapital Ventures names Việt Nam-born former German vice chancellor advisory board chairman – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — VinaCapital Ventures, the technology investment company of VinaCapital, on Friday announced the appointment of Dr Philipp Rosler, former German vice chancellor, as the chairman of its advisory board. Rosler will provide counsel to both VinaCapital Ventures and its investees. Born in Sóc Trăng Province, he was adopted at a young age and grew up in Germany. In 2011 he became vice chancellor and minister of economics and technology, and became actively engaged with and promoted the start-up community. He was…

Read More
Singapore 

Scoot’s Taipei-Singapore flight turned back due to ‘slight vibrations’ on board; passengers affected by 18-hour delay, Singapore News

SINGAPORE – More than 160 passengers on a Singapore-bound Scoot flight from Taipei were affected by a flight delay that saw them return home about 18-and-a-half hours later than scheduled. The 163 affected passengers landed in Singapore at 6.54pm on Wednesday (March 13), according to flight tracking site Flightradar24. Scoot Flight TR993, which left Taipei’s Taoyuan Airport at 7.36pm on Tuesday, turned back about one-and-a-half hours later. In a statement on Wednesday, Scoot said the plane returned to Taipei “as a precaution” due to “slight vibrations felt” on board. The…

Read More
Home 

US$45 billion in mutual fund inflows forecast for China’s Nasdaq-style tech board

Mutual funds dedicated to the upcoming Nasdaq-style tech board in Shanghai could draw inflows of 300 billion yuan (US$45 billion), according to research from China Galaxy Securities.The study comes as at least 31 Chinese asset management firms have submitted applications for 43 mutual funds to the securities watchdog, information available on the China Securities Regulatory Commission website showed on Monday.Hu Lifeng, chief fund analyst for China Galaxy Securities, said in the research note… Source link

Read More
China 

China scraps valuation limit to kick-start Xi Jinping’s technology board for home-grown companies to raise capital

Shanghai’s stock exchange, tasked by Chinese president Xi Jinping last November to create a technology board for the country’s most valuable start-ups to raise capital, has fine tuned its listing rules and upped the ante with Hong Kong in the race for the title of Asia’s fundraising hub.Initial public offerings ((IPOs) on the tech board will be priced through “interactions with eligible offline investors,” the exchange said late on Friday. That essentially removes the implicit valuation limit –… Source link

Read More
Home 

China’s top securities regulator raises doubts about readiness of new tech board in debut meeting with press

China’s newly appointed top securities regulator Yi Huiman, a veteran banker, raised questions about the readiness of a proposed new stock board to rival Nasdaq for fundraising by the country’s best technology start-ups, as he met reporters on Wednesday afternoon.Yi was treated like a celebrity during his first press conference in Beijing. Since the start of the year, the Shanghai Composite Index has emerged as the world’s best performing major market, rising 19 per cent, reversing a downbeat… Source link

Read More
Home 

Bytedance said to be sounded out by authorities about listing on Shanghai’s new tech board

Beijing-based Bytedance, operator of global short video hit app TikTok, known as Douyin in mainland China, has been contacted by authorities for a potential listing on the much-anticipated Technology Innovation Board in Shanghai, according to people familiar with the matter.The seven-year-old start-up started talks with investment banks about its IPO plans last summer. Before the option of listing on the new Shanghai tech board came up, Bytedance was considering either New York or Hong Kong,… Source link

Read More
Home 

Investors demand to know how IPOs will be priced in the run-up to China’s new tech board launch

Mainland Chinese equity investors were demanding to know how initial public offerings will be priced on Shanghai’s hotly-anticipated new technology board as a public consultation period drew to a close on Wednesday.Fund managers and retail investors said they were still awaiting a clear-cut reply from financial watchdogs to the question of how new shares on the Technology Innovation Board will be priced. They said the public consultation documents contained no reference to IPO pricing… Source link

Read More