China's Unitree open to Hong Kong IPO as Auntea Jenny, tech firms move ahead with listings
A number of mainland China companies are making plans for
initial public offerings (IPOs) or secondary listings in Hong Kong, a trend that augurs well for the city's effort to claw its way back to the top of the global league table of fundraising destinations.
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Wang Xingxing, the founder of humanoid-robotics start-up Unitree, told Hong Kong's chief executive
John Lee Ka-chiu during his visit to Hangzhou last week that a listing in the city remains a future consideration, local media reported.
Companies with firm plans to list in the city, according to recent exchange filings, include Shanghai-listed Suzhou Novosense Microelectronics, China's fifth-largest analogue chipmaker, and Shenzhen-listed Fibocom Wireless, a producer of wireless communication modules for Internet of Things applications.
On Monday, mainland bubble-tea chain Auntea Jenny launched its Hong Kong IPO, aiming to raise up to HK$270 million (US$35 million) at a maximum offer price of HK$113.12 per share, according to a stock exchange filing.
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Auntea Jenny, one of the mainland's largest tea sellers, posted a 2 per cent drop in revenue last year to 3.3 billion yuan (US$453 million), while its adjusted net profit edged up to 418 million yuan.
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