By Julie Zhu
At least 10 more mostly Chinese biotechs plan to go public in the city this year, with some even dropping plans for U.S. share sales in favour of listing closer to home
The proceeds will be used to develop five budget hotels under the brand, Awinka, over the next two years.
The initial public offering is expected to value the whole company at around A$3 billion.
Chinese social media giant Tencent Holdings Ltd already owns about a fifth of Meituan.
The planned listing was to be the cornerstone of the kingdom’s promised economic overhaul and, at a targeted $100 billion, the biggest IPO ever.
Canaan and Ebang filed plans for floats in Hong Kong, while Bitmain is expected to file its plans next month to raise at least $3 billion
SGX is partnering Third500 to court US venture-backed companies looking to list in Singapore.
The announcement comes just weeks after Landing’s $1.5 billion integrated casino project in the Philippines was halted by the president.
Morgan Stanley is advising Musk, not the company, its board or a special board committee formed to evaluate a potential take-private proposal
Mabpharm is the second biotech firm to file to list in Hong Kong this week after Suzhou-based Ascentage Pharma Group.