Outing.com has filed for a secondary itemizing in Hong Kong. The Chinese language hasten reserving situation is already listed on the Nasdaq in the U.S.
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GUANGZHOU, China — Chinese language hasten reserving situation Outing.com has filed for a secondary itemizing in Hong Kong, following other excessive profile names fancy Alibaba and Baidu, to raise money in the monetary hub.
Outing.com, which is currently listed on the Nasdaq in the U.S., did not scream the decision of shares this could well seemingly scream nor the worth they’ll list for. That is in total sure a whereas after the initial filing in Hong Kong.
JPMorgan, CICC and Goldman Sachs could be the joint sponsors of the secondary itemizing.
A decision of U.S.-listed Chinese language technology companies possess carried out secondary listings in Hong Kong including Alibaba, JD.com, Baidu and Bilibili. Persevering with tensions between the U.S. and China possess threatened to hit international companies listed on U.S. exchanges.
Final month, the U.S. Securities and Commerce Commission adopted a legislation which increases the auditing requirements for Chinese language companies and carries the specter of delisting for those who descend tainted of the suggestions.
A secondary itemizing in Hong Kong in total is a fashion to hedge by distinction threat.
Outing.com has felt the impact of the coronavirus pandemic which has put the brakes on worldwide hasten as authorities levied restrictions in an strive to beget the unfold of the virus.
The company’s earn income for 2020 became once 18.3 billion yuan ($2.8 billion), a 49% year-on-year descend.
Aloof, U.S.-listed shares of Outing.com possess surged bigger than 60% over the last 12 months as domestic hasten continues to leap support in China and anticipation builds for a gap up of worldwide flights.