Bubble tea chain IPO costs $10,000 per lot

Finance | Staff reporter and agencies 18 Jun 2021

Mainland bubble tea chain Nayuki has priced its Hong Kong initial public offering at around HK$10,000 per board lot.

And Chinese artificial intelligence startup SenseTime is said to be planning to list in Hong Kong and Shanghai, as other firms like FWD look toward US listings.

Nayuki starts book building today to raise up to HK$5.09 billion. The minimum investment is HK$9999.76 per board lot of 500 shares, and the offer price range is HK$17.2 to HK$19.8.

Meanwhile, SenseTime will file an IPO application to Hong Kong's stock exchange in August, according to mainland media reports.

SenseTime is expected to list on Shanghai's Star market after listing in Hong Kong due to Hong Kong's faster listing process.

Hutchison China MediTech has passed Hong Kong listing hearing and will start book building this week to raise US$500 million (HK$3.9 billion).

Meanwhile, Asian insurer FWD, backed by billionaire Richard Li Tzar-kai, is seeking a US listing while ride-hailing giant Didi Chuxing, which is also looking to a New York listing, is now facing a mainland antitrust probe.

FWD has filed confidentially for a US IPO in form of American depository shares sale.

It is considering raising about US$2 billion and the listing could value the insurer at about US$13 billion, Bloomberg reported.

Didi is pushing ahead with what could be the largest IPO in the United States this year, but China's market regulator is now investigating whether the ride-hailing giant used any competitive practices that squeezed out smaller rivals unfairly, Reuters reported.

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