Chinese e-commerce giant Alibaba Group Holding Ltd (NYSE:BABA) is no longer interested in listing its stock on the Hong Kong exchange
amid large-scale protests in the region, sources told Reuters.
Hong Kong exchange
was still the busiest in the region for IPOs, with $7.3 billion to its credit, Refinitiv data shows.
Before yesterday's announcement its stock had risen 21 per cent this year on the Hong Kong exchange
TPV had been doing extremely well until the 2008 financial crisis, with yearly revenue exceeding US$10 billion; TPV's stock price on the Hong Kong exchange
once soared to HK$9.85 (US$1.26) with market cap closing NT$100 billion (US$3.38 billion)," said Hsieh.
Brokers said investors took profits after some strong early buying in banking and Chinese companies listed on the Hong Kong exchange
, buoyed by stronger earnings figures driven by better-than-expected first-quarter economic growth in the mainland economy.
The Hong Kong exchange
"barely has any effective measures to prevent shareholders selling the listed company as a shell and making a profit," said Castor Pang, head of research at Core-Pacific Yamaichi.
"GECAS did not file for an IPO on the Hong Kong exchange
or elsewhere and is not raising equity through any public offering," GE Capital said in a statement.
In a statement to the Hong Kong exchange
, BIHL said it had "noted the increase of the share price and increase in trading volume of the shares.
The Beijing-based bank, a mid-sized lender closed at HK$3.87 on the Hong Kong exchange
, down 2.76% from its IPO price of HK$3.98.
The Swiss company is buying 152.9 million New China Life shares listed on the Hong Kong exchange
, it said in press release Wednesday.
The company's shares trade on the Hong Kong exchange
, but the stock is considered a part of the MSCI China Investable Market Index.