Crappydk
2021-03-31
Wow
Chinese Fintech Firm Falls as Much as 13% in Hong Kong Debut
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The company had priced its shares at HK$31.80 each in the IPO offering, the high end of its indicated range.</p><p>If the decline holds through the close, that would make it the worst debut among IPOs exceeding $500 million in Hong Kong since February 2018. A-Living Smart City Services Co. dropped 23% when itdebuted.</p><p>Bairong’s$507 million listingcomes after lackluster investor response to a number of tech debuts recently against the backdrop of a broader selloff due to concerns about lofty valuations and increasing crackdown by Beijing. Video streaming service Bilibili Inc.fellduring its debut on Monday while Baidu Inc. - which debuted just last week - is trading nearly 15% below its listing price.</p><p>Linklogis Inc., another fintech company, is scheduled to list on April 9.</p><p>Bairong’s cornerstone investors include Cederberg Capital Ltd., China Structural Reform Fund Corp. and Franchise Fund LP, which together bought about 64 million shares in the company, accounting for over 40% of this offering, according to itsprospectus. The company’s revenue jumped 47% on year in 2019, but is down during the first nine months of 2020 relative to the same period.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese Fintech Firm Falls as Much as 13% in Hong Kong Debut</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese Fintech Firm Falls as Much as 13% in Hong Kong Debut\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 10:21 GMT+8 <a href=https://www.bloomberg.com/news/articles/2021-03-31/chinese-fintech-firm-falls-as-much-as-13-in-hong-kong><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese fintech firm Bairong Inc. slumped during its debut in Hong Kong, the second listing in the financial hub this week to disappoint following a global selloff in China’s technology sector.Shares ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-03-31/chinese-fintech-firm-falls-as-much-as-13-in-hong-kong\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/76824cd4c5b97eaacdaab63d96995a28","relate_stocks":{"06608":"百融云-W"},"source_url":"https://www.bloomberg.com/news/articles/2021-03-31/chinese-fintech-firm-falls-as-much-as-13-in-hong-kong","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183840381","content_text":"Chinese fintech firm Bairong Inc. slumped during its debut in Hong Kong, the second listing in the financial hub this week to disappoint following a global selloff in China’s technology sector.Shares of the artificial intelligence-powered technology platform fell by as much as 13% to HK$27.55 in Hong Kong. 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