Investor Relations

1. China’s proposed ESG disclosure rules could go further to meet foreign investors’ needs, asset managers say

   International asset managers have welcomed a proposal by China’s regulator to enhance listed firms’ environment, social and governance disclosures, but have called for more detailed guidance on ESG reporting.They said that better ESG disclosure would facilitate allocation of more funds to mainland-listed shares as sustainable investing continues to gain traction among investors.“We believe companies would benefit from more detailed guidance [on ESG disclosures], which could refer to recognised…

2. Women on boards: Hong Kong exchange wants to end all-male boardrooms, quicken progress on gender diversity in ESG shakeup

   About one-third of Hong Kong-listed companies will need to appoint at least one woman director by 2025 or face a penalty under a stock exchange proposal to catch up with progress in gender diversity efforts elsewhere. It can expect some strong opposition. The proposal, which forms part of new environment, social and governance (ESG) rules put forth by Hong Kong Exchanges and Clearing (HKEX), also requires all new listing candidates to have at least one woman on their boards at the time of…

3. Indonesian e-commerce unicorn Bukalapak files to go public in Jakarta

   Indonesian unicorn Bukalapak has filed confidentially for an initial public offering (IPO) in Jakarta, making it one of the first large technology start-ups to go public in the world’s fourth-most populous country, according to a person familiar with the matter.The Jakarta-based e-commerce player is looking to capitalise on the digitisation of Indonesia’s economy during the coronavirus pandemic. Shoppers and merchants in Indonesia flocked to high-traffic digital platforms, allowing them to keep…

4. JD Logistics’ shares debut with premium in Hong Kong as investors eye IPO turning point after Baidu and Bilibili fumble

   JD Logistics, the transport subsidiary of one of China’s largest e-commerce companies, ended its first day of trading with a smaller-than-expected premium to its offered price in Hong Kong.The company’s stock opened at HK$46.05, 14.1 per cent higher than its initial public offering (IPO) price of HK$40.36. It ended with a 3.3 per cent gain at HK$41.70, smaller than the 20 per cent premium in pre-listing trading. Still, the initial pop was substantial compared with the recent flops involving…

5. S.F. Holding, operator of SF Express, set to raise up to US$345 million from listing of Reit logistics assets in Hong Kong

   S.F. Holding, China’s largest listed courier provider, plans to raise up to HK$2.68 billion (US$345 million) through listing an offshore real estate investment trust (Reit) in Hong Kong.SF Real Estate Investment Trust (SF Reit) will sell 520 million units in a range of HK$4.68 to HK$5.16 each. The company will start marketing the public offering from Wednesday, with the Reit units debuting on May 17.“We are the first Reit focused on logistic assets in the Greater China market,” Hubert Chak,…

6. Decathlon Hong Kong sets sights on ‘sports friendly’ New Territories as it opens Sha Tin and Ma On Shan branches

   Hong Kong was merely considered a pilot scheme for Decathlon, but four years later it finds itself opening branches six and seven, with an eighth already in the works.The French sports retailer is not the first to head north, its decentralisation driven primarily by the Island’s notoriously high rents. Sha Tin district, and much of New Territories, has also conveniently seen a rise in demand for health and wellness.Ahead of the opening of its Sha Tin store in New Town Plaza’s Phase III last…

7. Berkshire Hathaway’s Warren Buffett warns investors not to gamble on stocks as ‘it’s not as easy as it sounds’

   Billionaire Warren Buffett warned people not to think investing is an easy way to make a fortune as he answered a variety of questions at Berkshire Hathaway’s annual meeting on Saturday.Buffett said it can be tough to pick the long-term winners. He pointed out that in 1903 there were more than 2,000 car companies, and nearly all of them failed even though cars have transformed the country since then.“There’s a lot more to picking stocks than figuring out what will be an incredible industry in…

8. Convoy shares to be delisted from Hong Kong stock exchange on Tuesday

   Shares of Convoy Global Holdings, the financial services company at the centre of Hong Kong’s biggest corporate scandal, will be delisted on Tuesday as it had failed to fulfil its obligation that would have allowed trading to restart, the Hong Kong stock exchange said on Friday evening.Trading of Convoy’s shares had been suspended since December 2017 as regulators began their investigations following a scandal that saw its former director Roy Cho Kwai-chee and two associates criminally charged…

9. Meituan shares reverse losses as investors expect limited impact from China’s antitrust investigation

   Shares of Meituan, the country’s largest on-demand delivery service provider, rose as investors expect a limited impact from China’s antitrust investigation into the company over alleged monopolistic business practices.Meituan closed 2.6 per cent higher at HK$313, reaching its highest level since April 9, after dropping as much as 2.8 per cent in intraday trading to HK$296.40. The fifth-largest stock by weighting on the benchmark Hang Seng Index fell 0.5 per cent on Monday. Overnight, the…

10. Ant Group to offer interest-free loans to employees in bid to prevent exodus after shelved IPO

    Jack Ma’s Ant Group plans to offer zero-interest loans to employees who own illiquid stock options, seeking to boost morale after the company’s landmark initial public offering was suspended in November, people familiar with the matter said.The loans will be backed by eligible employees’ restricted stock options, which will be valued at levels calculated after a 2018 funding round, the people said, asking not to be identified discussing private information. That will allow Ant to give staff…