September 18, 2024

Hong Kong stocks​ celebrate the Mid-Autumn Festival with Midea Group, the largest new ‍stock since 2021 ⁢(00300) was listed, ⁢with a⁤ fund-raising scale⁢ of⁢ 31 billion yuan. The H-shares of this leading home appliance‌ company that has attracted much attention from investors closed on the first day of trading yesterday at 59.1 yuan, up 7.85% from the issue price‌ of 54.8 ⁢yuan. Hong Kong Stock Exchange‌ (00388) Chief Executive Officer Chen Yiting expressed confidence that Hong Kong can⁢ return to the top of the world‌ in terms​ of IPO funds raised this year.⁤ There are ⁤still 100 companies lining up for listing, and large‌ new⁣ stocks will ‌”come one after another.”

Earn ‍430 ​per hand and turnover exceeds ⁤3.8⁢ billion

Following Monday’s dark market rally, ‍Midea opened ⁤8.03% higher yesterday at 59.2 yuan. It rose as much‌ as ⁤9.49% in⁤ the early period, reaching a high of ​60 yuan. Then the increase narrowed ⁤slightly, closing at 59.1 ⁤yuan, with a book profit of 430 yuan per lot of 100 shares. The full-day turnover reached 3.844 billion yuan.

Fang Hongbo, chairman and president of Midea Group headquartered in Foshan,⁢ attended the ⁢listing ceremony and‌ said that landing ​in the Hong Kong ‌capital market will help further accelerate the globalization process of Midea; in the ‍future, it will continue to implement‌ the four major pillars of technological leadership, direct user access, ‌digital drive, and global breakthroughs. strategy ⁢to ‍consolidate its leading position⁣ as a global technology ​company and create more value ⁤for users ​and shareholders.

Wen Jie, head of KGI Asia’s ​investment strategy department, said that ​Midea’s stock ⁣price ⁤performance on the first ​day of listing was in ⁣line with expectations. With its popularity, the mainland’s implementation of the ‌home appliance ‍trade-in ⁢policy, and the IPO at a ​discount price, it ⁢is attractive for institutional investors to ‌hold in the⁢ medium and long term. force. ‌The response from⁣ retail investors this time⁤ was​ not enthusiastic. After Midea ‍was listed yesterday, the discount ⁣of H shares to A shares has narrowed significantly. It⁣ is expected that the market​ outlook will follow the market.

Midea’s listing in Hong Kong raised 31 billion ​yuan. Chen Yiting pointed out that if⁤ the ‍company⁣ finally exercises its over-allotment option, the amount of funds ⁣raised will reach 4.6 billion US dollars ⁣(about 35.88 billion ​Hong Kong dollars), which will be ⁤the ⁢largest new issue ⁤in Hong​ Kong since⁢ February 2021. It is ‌the ‌second largest new⁢ stock in the world ‌this year.

Chen Yiting ‌expects large-scale new stocks to ⁢come one after another

In April, the China Securities Regulatory Commission announced five measures to ​support Hong Kong’s capital market, including encouraging‌ leading mainland companies to list in Hong Kong. Chen Yiting described ⁤Midea’s listing in Hong ‌Kong⁣ as “fulfilling” its promise⁣ and​ a “perfect demonstration.” As for⁢ whether other leading mainland companies will list on⁢ the Hong ⁣Kong stock market​ in⁤ the rest of this year, Chen Yiting responded that Midea is⁢ just ⁤the first one. ​There⁢ are currently ‌100 companies lining up for listing in the​ new stock project pipeline, including many US$1 billion‍ (approximately HK$7.8 billion) ​fundraising projects. ⁢, it is expected that ⁤large-scale new stocks will follow one after another. If the external environment permits, ⁤it is expected to ⁤complete the relevant listing ​work before the end of the year.

Chen Yiting continued⁤ that there are many positive⁢ signals in the new stock market. In addition to a large number ⁣of companies⁣ applying for listing, the refinancing scale⁣ of Hong Kong listed companies this year ⁣has reached 20⁤ billion US dollars, and there are many new stock project pipelines. She added that⁣ Alibaba ​(09988) has completed dual ‍primary listings and⁢ was ⁢recently ‍included in the “Hong Kong Stock⁢ Connect”,⁢ achieving “both​ price and volume increases.” In addition to Beishui purchases, there are also many foreign funds participating⁤ in transactions. Coupled with expectations of interest rate cuts, it will benefit the stock market.

IPO fundraising this‍ year is expected to ‌return to the forefront of the world

The ⁢listing of‍ Midea has brought the amount‌ of new​ shares⁤ raised in Hong Kong year-to-date to 50.694 billion yuan, surpassing last ⁣year. Chen Yiting revealed that Hong Kong has ranked among the​ top five in ‍the world in terms of IPO funds raised. He is confident that he ⁢can return to the forefront of‌ the world this year and will continue to work⁢ hard.

In addition, Chen Yiting made it clear that he ‌does not feel that‌ Hong Kong’s status⁣ as ⁤an international financial ‌center has been weakened. A few weeks⁢ ago, he and Hong Kong Stock Exchange ⁢Chairman Tong Jiacheng ⁢visited Beijing and met with leaders of different ⁤ministries. They “have the same⁣ voice”, that is, they “very much support Hong Kong.”​ I ⁢hope It can ‍support the Hong Kong⁤ Stock ⁣Exchange to consolidate Hong Kong’s status as an⁢ international financial center.‌ She added that‍ the five measures announced by the China Securities Regulatory Commission ⁤to benefit Hong Kong,‌ including including real estate ⁢investment ⁤trusts (REITs) into the “Shanghai-Shenzhen-Hong Kong Stock Connect” and supporting​ the inclusion of RMB stock trading desks in the “Hong Kong Stock ⁢Connect”, are in full ‍swing.

In terms of other new stocks, Zhejiang Taimei Medical Technology has passed the listing hearing. IFR quoted people ​familiar with the matter as saying that the company has⁢ launched a pre-roadshow for​ Hong Kong listing. It is rumored that ⁢it‌ plans‍ to raise about US$100 million; Morgan Stanley and CICC are joint sponsors. .