FAST NEWS: Tencent Music’s Hong Kong Shares Outshine New York in Trading Debut

The latest: Tencent Music Entertainment Group (TME.US; 1698.HK) listed on the Hong Kong Stock Exchange Wednesday using a method called “by way of introduction,” which does not involve issuing new shares. The stock is already listed in New York. Based on each American depositary share (ADS) representing two Hong Kong-listed shares, its opening price of HK$18 was slightly higher than the ADS’ New York Tuesday closing price, which was the equivalent of HK$17.98. Looking up: During the listing ceremony, Chairman Cussion Pang said the company will strengthen support for original…

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Lepu ScienTech Revives IPO After Policy Move Brightens Its Prospects

China’s leading supplier of congenital heart disease devices made its third filing earlier this month for a Hong Kong IPO Key Takeaways: After taking its Lepu Biopharma unit public in February, Lepu Medical is pressing ahead with a third attempt at listing is Lepu ScienTech unit in Hong Kong China’s healthcare regulator has said it won’t include innovative medical equipment in its bulk purchase programs, which should help Lepu ScienTech’s profitability Emily Chan Hong Kong’s stock market may be slumping, and the U.S.-China tech war may be spilling over into…

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Fosun International Sells Assets as Short-Term Cash Crunch Looms

Moody’s downgraded the Shanghai-based financial conglomerate last month, saying it could have difficulty repaying its ‘sizable debt’ maturing over the next 12 months Key Takeaways: Fosun has sold down its stake in New China Life, its latest move to raise cash as it faces large debt maturing in the next 12 months The company is also selling down stakes in its Fosun Tourism unit, owner of the Club Med resort chain, and appears to be selling shares in its core Fosun Pharma holding By Doug Young A group of Chinese…

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