KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Chinese IT Firm Picks Banks for Second Listing Amid China’s Market Shift
- Unisplendour Corp, a Beijing-based IT services provider, is planning a second listing in Hong Kong to raise around US$1 billion (RM4.42 billion) to fuel its overseas expansion.
- BNP Paribas SA, China Merchants Bank International, and CSC Financial Co have been tapped as lead banks for the offering, with more banks potentially joining the deal.
- The company confirmed it is exploring equity financing in Hong Kong but has not finalized the plan or a listing timeline.
China’s IPO Shift to Hong Kong
- Chinese firms are increasingly turning to Hong Kong for capital as China limits domestic stock sales to stabilize its equity market.
- Other major Chinese companies seeking Hong Kong listings include:
- Contemporary Amperex Technology Co Ltd (CATL) – the world’s largest battery maker
- Jiangsu Hengrui Pharmaceuticals Co – a major drugmaker
- Foshan Haitian Flavouring & Food Co – a leading condiment producer
- These deals support Hong Kong’s IPO revival, with 2025 listings projected to more than double to US$22 billion, as market confidence improves following a 17% rise in the Hang Seng Index.
Unisplendour’s Market Position & Growth Strategy
- The company specializes in cloud computing, software development, servers, and storage systems.
- Its Shenzhen-listed shares have risen 12% in 2025, valuing the company at approximately 90 billion yuan (RM54.85 billion).
Hong Kong’s IPO Rebound
- The influx of Chinese firms listing in Hong Kong signals confidence in the city’s financial market recovery.
- Higher valuations and regulatory easing could further boost IPO activity, making Hong Kong a preferred listing destination for Chinese firms eyeing global expansion.
Comments
Post a Comment