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Initial public offering

HSBC summit: Hong Kong’s financial ecosystem is robust, resilient and unwavering, HKMA’s Eddie Yue and SFC’s Julia Leung say

by Anas Siddiqui
HSBC summit: Hong Kong’s financial ecosystem is robust, resilient and unwavering, HKMA’s Eddie Yue and SFC’s Julia Leung say

“You may still hear noises or perceptions … [that] Hong Kong’s growth as a financial centre is fading,” Yue said. “But if you look at the numbers, they paint for …

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ByteDance raises annual bonus for high-performing employees amid restructuring and latest TikTok crisis in US

by Anas Siddiqui
ByteDance raises annual bonus for high-performing employees amid restructuring and latest TikTok crisis in US

While employees have started to receive their bonuses for the past year based on their performance review, those who were rated “M” or higher will be rewarded extra payment of …

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Syngenta withdraws Shanghai IPO application, will restart process in China or elsewhere ‘when the conditions are right’

by Anas Siddiqui
Syngenta withdraws Shanghai IPO application, will restart process in China or elsewhere ‘when the conditions are right’

Swiss agrichemicals and seeds giant Syngenta Group has withdrawn its application for a listing in Shanghai amid mainland China’s slowing equities market, dashing hopes for one of the largest share …

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Alibaba’s logistics unit Cainiao to double year-end bonus for employees, in morale-boosting move after scrapped IPO

by Anas Siddiqui
Alibaba’s logistics unit Cainiao to double year-end bonus for employees, in morale-boosting move after scrapped IPO

Hangzhou-based Cainiao will launch an “entrepreneurship incentive plan” that will double the bonus pool allocated for the financial year ending March 31, 2025, according to company chief executive Wan Lin …

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Reddit IPO 5x oversubscribed with $6.5b valuation: report

by Isaac Wright
Reddit IPO 5x oversubscribed with .5b valuation: report

Reddit appears set to reach a $6.5 billion valuation with its initial public offering (IPO), according to Reuters. The San Francisco-based social media company’s IPO is currently between four and …

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ByteDance CEO wants to whip employees into shape, as they lack a ‘sense of crisis’ amid fierce competition at home and abroad

by Anas Siddiqui
ByteDance CEO wants to whip employees into shape, as they lack a ‘sense of crisis’ amid fierce competition at home and abroad

The chief executive of ByteDance, owner of TikTok and its Chinese sibling Douyin, said the company lacks a sense of crisis, which has made the Chinese social media giant slow …

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TikTok owner ByteDance allows employees to cash in stock options earlier under new payroll policy

by Anas Siddiqui
TikTok owner ByteDance allows employees to cash in stock options earlier under new payroll policy

ByteDance, owner of global short video hit TikTok and its Chinese sibling Douyin, has adjusted its payroll policy to allow employees to sell their stock options faster, as plans for …

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Alibaba reduces stake in GoGoX amid Hong Kong logistics services firm’s mounting losses, as it faces cutthroat competition on the mainland

by Anas Siddiqui
Alibaba reduces stake in GoGoX amid Hong Kong logistics services firm’s mounting losses, as it faces cutthroat competition on the mainland

Alibaba, which owns the South China Morning Post, has cut its GoGoX stake four times over the past two months, slashing its equity holding to 8.89 per cent as of …

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Chinese tech IPOs to watch in 2024: global fast-fashion online retailer Shein leads the pack

by Anas Siddiqui
Chinese tech IPOs to watch in 2024: global fast-fashion online retailer Shein leads the pack

People shop at Shein’s holiday pop-up store inside the Forever 21 branch at Times Square in New York City on November 10, 2023. Photo: Reuters “China’s tech companies face strong …

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Jack Ma-backed fishery-and-agriculture company 1.8 Meters starts sale of seafood products via Alibaba’s Freshippo and Tmall

by Anas Siddiqui
Jack Ma-backed fishery-and-agriculture company 1.8 Meters starts sale of seafood products via Alibaba’s Freshippo and Tmall

Dozens of orders had been placed for those two seafood products on Tmall as of Tuesday noon, which could be viewed by some as a lukewarm performance on the platform. …

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