By Mars Woo
Investor concerns about high inflation and worsening China-U.S. trade tensions have weighed on the Philippines’ broader stock index. It has fallen 15 percent this year, the worst performer in Southeast Asia.
WuXi AppTec, which previously traded on the New York Stock Exchange, was taken private in 2015 in a $3.3 billion deal by founder Ge Li and a group of investors including Ally Bridge Group and Hillhouse Capital.
The IPO proceeds will be used to expand its overseas operations, including setting up a plant in Myanmar.
Haidilao plans to use the proceeds to fund its international expansion into markets including the United Kingdom and Canada.
Chinese authorities have been preparing a trading link with the U.K. as part of a broader effort to increase access to the country’s financial system.
Shanghai-based online drugstore 111 Inc has raised $100.5 million in a scaled-back initial public offering in the US.
The delivery platform is squaring off with Alibaba-backed rivals Alipay, Ele.me and Koubei as well as Tencent’s own WeChat.
The Africa business represents just over a quarter of the revenue of the listed entity, which has a $20 billion market capitalisation.
Qutoutiao is the 25th Asia-based company to list on New York exchanges this year to raise a combined $7.4 billion in IPOs.
The Asian investor built a stable of British infrastructure assets ranging from sewage to gas to rail over the last decade.