From chips to noodles: the newcomers testing Hong Kong’s buoyant IPO market



Hong Kong’s booming fundraising market is set for another busy week, with four companies scheduled to debut this week and a string of billion-dollar listings – including Chinese luxury electric vehicle maker Avatr Technology – lining up behind them.

Among this week’s newcomers, chip materials supplier Guangdong Tianyu Semiconductor plans to raise the highest sum, seeking up to HK$1.74 billion (US$223.42 million) from the sale of 30.07 million shares.

The shares have been priced at HK$58 each. Ten per cent of the offer is earmarked for the public, with the remaining 90 per cent going to the international tranche.

Meanwhile, Chinese noodle restaurant chain operator Guangzhou Xiao Noodles is aiming to raise up to HK$685.45 million, while massage services provider Lemo Services is targeting HK$222.22 million.

Anhui Jinyan Kaolin, a kaolin miner and seller supplying the industrial-grade white clay for manufacturing, has sought HK$177.39 million, according to exchange filings.

Tianyu and Guangzhou Xiao Noodles will debut on December 5, while Lemo Services and Anhui Jinyan Kaolin were due to start trading on December 3. All four were primary listings.

  • Related Posts

    Hong Kong stocks decline, taking cues from US rout on jitters about AI disruption

    Hong Kong stocks fell on Friday, trimming a weekly gain, after a sell-off resumed on Wall Street on renewed concerns that artificial intelligence would disrupt business models across multiple industries.…

    Continue reading
    China’s MiniMax releases cheap AI model ‘designed for real-world productivity’

    Chinese artificial intelligence (AI) company MiniMax has released a new model “designed for real-world productivity”, hot on the heels of new releases from its domestic rivals in a frenetic week…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *