FAST NEWS: Weibo Launches Hong Kong IPO

The latest: Weibo Corp. (9898.HK; WB.US), often called the “Twitter of China” has launched a secondary listing in Hong Kong consisting of 11 million of its Class A ordinary shares. Subscriptions for the IPO shares began today and will run through noon on Dec. 2, with a maximum fundraising target of HK$4.27 billion ($547 million). Looking up: Weibo’s monthly active users (MAU) as of September reached 573 million, and its revenue has grown at a compound annual rate of 26.7% in the past four years. The company’s revenue in this year’s…

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FAST NEWS: 51job Shares Plunge on Privatization Doubts

The latest: Online recruitment site operator 51job Inc. (JOBS.US) said a group bidding to privatize the company is “in consultation with Chinese regulators on recent regulatory changes in China that may be applicable to the company and the proposed transaction.” It did not comment further on the nature of the regulatory changes, and added a timeline for completion of the consultations “cannot be provided at this time.” Looking Up: 51job first received the privatization offer a year ago, and had previously said the deal was expected to close by the…

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FAST NEWS: Club Med Strength Fuels Fosun Tourism Rebound in Third Quarter

The latest: Fosun Tourism (1992.HK), owner of the Club Med resort chain, said the business volume at its resort operations totaled 5.58 billion yuan ($873 million) in the first nine months of the year, down 4.4% from the same period a year earlier. The decline marked a big improvement from the first half of the year, when business volume plunged 41.9% to 2.43 billion yuan. Looking Up: The improving performance was reflected in third-quarter results for Club Med, whose business volume more than doubled to 2.6 billion yuan during the…

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