EUR/USD 1.12377
0.164%
Gold 4168.72
-0.043%
Oil 98.821
2.843%
USD/JPY 157.991
0.009%
GBP/USD 1.33278
0.397%
GBP/JPY 210.572
0.390%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
October 18th - US President Trump stated, "France is burning! Immigrants from a completely different world—these people are filled with hatred—have destroyed that once great nation. Close the borders immediately and take back control, or it will be too late!"On October 18, a Ukrainian defense company reported on social media that the Ukrainian military used FP-1 drones to attack a data center, the Ruch oil depot, and the St. Petersburg oil terminal in Russia early that morning. The company stated that fires broke out in the oil depot and terminal area, and the data center suffered severe damage. The St. Petersburg oil terminal has an annual throughput capacity of 12.5 million tons.Ukrainian President Zelensky: Intelligence sharing between Ukraine and the United States has resumed operation.Global Chip LOF: Trading in this fund will be suspended from the opening of the market on October 19, 2026, and will resume at 10:30 on October 19, 2026.On October 18, Ukrainian President Volodymyr Zelenskyy posted on social media that Russian forces attacked substations in Vinnytsia, Zhytomyr, Khmelnytskyi, and Odessa regions on the evening of October 17, causing power outages for tens of thousands of households. In addition, the Russian airstrikes that evening resulted in two deaths and 12 injuries. Zelenskyy stated that in the week since US President Trump declared an "energy ceasefire" between Russia and Ukraine, Russia has launched 76 attacks on Ukrainian power, oil, and gas facilities. Over the past week, the Russian military has launched 2,700 attack drones, more than 1,700 aerial bombs, and 66 missiles into Ukraine, primarily targeting Ukrainian energy facilities. He called on the US to put pressure on Russia. According to official Ukrainian statements and energy company announcements on social media on the morning of October 18, from the evening of October 17 to the early morning of October 18, Russian forces launched airstrikes on energy facilities in multiple Ukrainian regions, causing emergency power outages in Kyiv, Kyiv Oblast, Odessa Oblast, Ternopil Oblast, and other areas.

Onewo, a China Vanke Subsidiary, Seeks $784 Million in an IPO in Hong Kong

Aria Thomas

Sep 19, 2022 10:40

1.png


Onewo Inc, the property management branch of China Vanke Co Ltd (SZ:000002), is planning a long-awaited initial public offering in Hong Kong to generate up to HK$6.2 billion ($784 million).


The company would sell between HK$47.1 and HK$52.7 per share for a total of 116.7 million shares. If investors exercise their over-allotment option, the company will offer 134.2 million shares for about HK$7.1 billion to raise capital.


China Vanke revealed the amount to the Hong Kong exchange in a file. Earlier reports indicated that the corporation was seeking to raise up to $1.5 billion. Nonetheless, it is one of Hong Kong's largest IPOs this year.


Upon completion of the deal, Onewo's market value will vary between HK$54.97 billion and HK$61.51 billion. The joint sponsors of this offering are Goldman Sachs (NYSE:GS), Citigroup (NYSE:C), and Citic Securities.


Oneto offers property management services that incorporate artificial intelligence and outsourcing strategies. Vanke owns around 60% of the business.


This offering coincides with a catastrophic decline in China's real estate market, which has been exacerbated this year by a series of COVID lockdowns. Several large developers are experiencing a liquidity crunch as a result of mortgage boycotts and heightened regulatory scrutiny, while new house sales fall.


China Vanke has defied the slowdown thus far, as seen by its month-to-month profit and revenue growth in its interim financial reports. However, both the firm and Onewo have warned of a future fall in the property market due to other difficulties.


This year, the Hong Kong initial public offering (IPO) market has also slowed due to COVID lockdowns and increasing regulatory scrutiny in China.


Hong Kong's benchmark stock index, the Hang Seng, has plummeted by about 25 percent in the previous year, and local market prices are also under pressure.

Suggestion