Hong Kong's IPO market is on fire; these 3 factors are driving the boom: HSBC
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Wall Street's $45 Billion Hong Kong Comeback Has a Dangerous Catch
Hong Kong is back in the game. After years of silence, the city's IPO machine is firing on all cylinderspowered by a surge in Chinese capital raising. CATL, China's battery giant, led the way with a $5.2 billion listing to fund its Hungarian factory supplying Mercedes and BMW. BYD (BYDDF), a major Tesla (NASDAQ:TSLA) competitor, raised $5.6 billion to fuel global expansion. In total, over $45 billion has been raised through listings and placements this yearup from just $6.3 billion a year ago. The Hang Seng Index is up 24%, outpacing US and European markets. Equity desks at Morgan Stanley, Credit Agricole, and local powerhouses like Citic are packed. One law firm partner said they're turning away deals and hiring to keep up with the pipeline. The momentum looks durable, with more than 200 IPOs in the works and a rebound in office leasing that's luring firms like Jane Street, Ardian, and Arga back into the city. Warning! GuruFocus has detected 2 Warning Sign with JD. But this isn't just a story about capital. It's a story about control. Beijing is tightening its gripand Hong Kong is now the bridge for China to access global markets, not the other way around. Chinese regulators have slowed US listing approvals while actively loosening capital controls in Hong Kong. That shift has tipped the scales: nearly 70% of new listings this year come from mainland firms already listed onshore, up from just 2% in 2023. Officials are pushing harder than evereasing float rules, accelerating cross-border flows, and publicly calling for market reform. Behind the scenes, Wall Street firms are jumping in, but also navigating landmines. When CATL tapped JPMorgan and Bank of America as lead underwriters, US lawmakers lashed out, warning of significant reputational and regulatory risks. Jamie Dimon stood his groundbut subpoenas followed. The pressure isn't letting up. And that's the catch. This boom isn't just cyclicalit's strategic. China's corporate heavyweights, facing deflation and domestic saturation, are expanding overseas. Factories. M&A. Global brand building. Hong Kong is the fundraising pit stop. But the tighter the city links itself to Beijing's playbook, the more exposed it becomes. With Trump extending a pause on tariffs (for now) and trade talks warming up, markets are breathing easier. But risks remain. Washington sanctions are stacking up. Multinationals are using burner phones. And Beijing's political shadow looms larger than ever. One former Wall Street chairman put it bluntly: this isn't a revival of Hong Kong's global statusit's a repositioning. A rally, yes. But one with strings attached. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
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Data centre developers hand cash to Labour in ‘Yimby' charm offensive
The developer behind one of Europe's biggest data centres has donated tens of thousands of pounds to Labour amid a race to get more properties built across Britain. DC01, a property developer that is seeking to build a £3.75bn data centre in Hertfordshire, gave £20,000 to the Labour Growth Group, which includes dozens of Labour MPs, in May, according to Electoral Commission records. The property company sponsored a reception at the De Vere Grand Connaught Rooms in Covent Garden for Labour MPs in June that was attended by senior ministers, including Darren Jones, the Chief Secretary to the Treasury, and Peter Kyle, the Technology Secretary. At the dinner, Mr Kyle spoke of the 'essential role data infrastructure will play in delivering the UK's technology ambitions', DC01 said in a LinkedIn post. Another property company owned by London-listed developer Tritax Big Box gave £25,000 to a Labour pressure group called Labour Yimby – or 'yes in my back yard' – in June. Labour Yimby calls itself a 'grassroots pro-housing, pro-growth movement' largely made up of Labour councillors. Tritax Big Box manages billions of pounds in properties for logistics and warehousing, but has increasingly pitched its facilities as 'compelling data centre opportunities'. New planning applications The donations come amid deepening ties between Labour, developers and the technology sector as the Government seeks to boost investment in Britain, at a time when interest in artificial intelligence (AI) is booming. Labour ministers have sought to smooth over planning rules to make it easier for data centres to be built on the green belt in so-called 'grey belt' areas. Multiple new data centre applications have been waved through, despite concerns from residents and in some cases objections from local councils. It follows concerns that a glut of new data centres could ramp up the UK's emissions. Data centres for AI require racks of thousands of powerful and power-hungry computer processors. In September, the Government tweaked planning rules to classify data centres as projects critical to national security, which can help bypass planning roadblocks. Announcing the measures, Mr Kyle also hailed DC01's data centre plans as a 'vote of confidence' in Labour's approach. DC01 received outline planning permission from Hertfordshire County Council in January for its 2m sq ft facility near South Mimms. It still requires full planning permission for the project. It is not clear who funds DC01 or who its ultimate customer will be. If the project goes ahead, it could secure a deal with a technology giant such as Amazon or Microsoft. DC01 has said its project will create 200 permanent jobs and 500 construction roles. Marc Harris, the co-chairman of Labour Yimby, said: 'We make no apology of supporting the industry to build the homes and infrastructure so desperately needed. 'Britain's finances and services cannot afford to side with blockers over builders. We support the Government's pledge to build 1.5 million homes, and unlock our data centre potential, but bold planning reforms are needed to make it happen.' Labour Growth Group declined to comment. Tritax Big Box declined to comment. DC01 was contacted for comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
3 hours ago
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Etoiles Capital Group Co., Ltd Announces Closing of Underwriters' Over-Allotment Option in Connection with Initial Public Offering
HONG KONG, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Etoiles Capital Group Co., Ltd (Nasdaq: EFTY), a Hong Kong-based financial services provider, today announced that it closed the sale of an additional 210,000 Class A ordinary shares of the Company, pursuant to the full exercise of the underwriters' over-allotment option granted in connection with the Company's initial public offering ('IPO', together with such over-allotment closing, the 'Offering'), at the IPO price of $4.00 per share, less underwriting discounts. As a result, the Company has raised aggregate gross proceeds of $6,440,000, including the previously announced IPO gross proceeds of $5,600,000, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company. Proceeds from the Offering will be used for business expansion, technology infrastructure, strategic marketing, and general corporate purposes. The Offering was conducted on a firm commitment basis. Prime Number Capital, LLC acted as the representative underwriter and sole book- runner for the Offering. Loeb & Loeb LLP acted as the U.S. counsel to the Company, Ogier acted as the Cayman Islands counsel to the Company, and Ye & Associates, P.C. acted as the U.S. counsel to the underwriting syndicate in connection with the Offering. A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission ('SEC') (File Number: 333-287302) and was declared effective by the SEC on August 7, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement. A final prospectus relating to the Offering was filed with the SEC on August 7, 2025, which may be obtained from Prime Number Capital, LLC, 12 E 49 St, Floor 27, New York, NY 10017, Attention: Shenghui Yang by email at ecm@ or by calling +1(347) 329-1575. In addition, copies of the prospectus relating to the Offering may be obtained via the SEC's website at This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Forward-Looking StatementsCertain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as 'approximates,' 'assesses,' 'believes,' 'hopes,' 'expects,' 'anticipates,' 'estimates,' 'projects,' 'intends,' 'plans,' 'will,' 'would,' 'should,' 'could,' 'may' or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. About Etoiles Capital Group Co., LtdEtoiles Capital Group Co., Ltd (Nasdaq: EFTY) is a Cayman Islands holding company operating through its Hong Kong subsidiary, Etoiles Consultancy Limited. The Company provides comprehensive financial advisory, capital markets services, and integrated solutions—including corporate financing, initial public offering consulting, and investor relations—to clients navigating global capital markets. ContactsIssuer InquiriesEtoiles Capital Group Co., LtdRoom 1109, 11/F, Tai Yau Building181 Johnston Road, Wanchai, Hong KongTel: +852 2398 8699 | Email: ir@ Underwriter InquiriesPrime Number Capital, LLC27F, 12E 49th Street, New York, NY 10017Tel: (347) 329-1575 | Email: info@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
