Friday, 29 May 2020

Huobi eyes backdoor listing via Patronics

Chinese cryptocurrency trading platform Huobi is reportedly seeking a backdoor listing via Patronics Holding (1611), which spiked 70.13 percent yesterday.

Patronics said on Tuesday night that Huobi Global, a subsidiary of Huobi Capital, purchased for HK$2.72 per share an aggregate of 215,576,000 Patronics shares, representing about 71.67 percent of its entire issued share capital.

Meanwhile, China's YeePay, a payment-services provider backed by US buyout firm TA Associates, is planning a Hong Kong initial public offering that could raise about US$200 million (HK$1.56 billion), people with knowledge of the matter said.

The Beijing-based company is working with advisers on the possible listing and it aims to list its shares next year.

Chinese drug developer Hua Medicine kicks off its public tranche building today, pricing its IPO between HK$8.28 to HK$9.28 per share.

New World Development (0017) executive vice-chairman Adrian Cheng Chi-kong reportedly invested in the company.

China Chunlai Education (1969) starts its initial public offering from today to September 5. It has priced its IPO between HK$2.08 to HK$2.98 per share.

Tasty Concepts Holding, a restaurant chain operator that sells Japanese ramen in Hong Kong, Macau and the mainland, plans to go public in the SAR's Growth Enterprise Market.

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