FAST NEWS: Tencent Music to Make Second Listing in Hong Kong

The latest: New York-listed Tencent Music Entertainment Group (TME.US; 1698.HK) announced Thursday it will make a second listing in Hong Kong using a method called “by way of introduction,” which does not involve issuing new shares. Trading for the new listing is expected to begin next Wednesday. Looking up: Earlier this year, Tencent Music was placed on a growing list of Chinese companies that could be forcibly delisted in the U.S. for failing to comply with U.S. law. Thus, its new Hong Kong listing will help it to maintains its status as…

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China IPO Flow Picks Up in New York, But Big Names Still Absent

Four Chinese companies have submitted new or updated prospectuses for New York listings over the last 10 days, though all are relatively small Key Takeaways: Four Chinese companies have submitted New York IPO applications since Sept. 6, indicating such listings could be accelerating after a near standstill over the past year Major new U.S. IPOs by Chinese firms probably won’t resume until the U.S. securities regulator provides an update in December on a new information deal with its Chinese counterpart By Doug Young After months at a trickle, the flow…

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Hong Kong SPAC Market Wilts as Global Fever Ebbs

Global investors are becoming less keen on special purpose acquisition companies, clouding prospects for Hong Kong’s own SPAC market launched at the start of this year Key Takeaways: Only three Hong Kong SPACs have listed since the city launched a local program early this year, and all now trade below their listing prices U.S. SPACs have raised $12.5 billion so far this year, less than 10% of what they raised in 2021, as the global SPAC market cools By Ken Lo Blame it on the market. Or perhaps special purpose…

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