China’s Meituan denies plans for a secondary listing on the mainland

Menu icons are displayed on the Meituan application on an Apple Inc. iPhone in an arranged photograph taken in Hong Kong, China, on Thursday, Sept. 6, 2018. Photographer: Paul Yeung/Bloomberg

By Yingzhi Yang, Brenda Goh

November 4, 2020

Hong Kong-listed Meituan, China’s food delivery giant, said on Tuesday that it has no plans nor a timetable for a secondary listing on the mainland.

Bloomberg reported earlier that Meituan was considering a secondary listing in China as soon as next year, citing unidentified sources.

Meituan was considering ChiNext, a Nasdaq-style board under the Shenzhen Stock Exchange, among potential listing venues in mainland China, Bloomberg reported.

Meituan shares were up as much as 2% after the second lisiting news in early afternoon.

The on-demand service giant, whose apps range from grocery delivery to hotel booking, is expanding into new areas such as fresh food – a sector boosted by pandemic lockdown measures.

Shares of Meituan have been more than quadrupled since its debut in Hong Kong two years ago.

Reuters

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).

A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories.
A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.