Ant's dual listing could double cross Wall Street

[HONG KONG] Ant's dual listing is bad news for Wall Street. A chunk of the US$150 billion fintech giant will be sold on Shanghai's fledgling Star board, which is proving popular with big issuers and where fees for initial public offerings (IPOs) are as generous as in New York. Hong Kong bankers...

Hang Seng Index makeover sets fresh benchmark for Hong Kong

[HONG KONG] Hong Kong's main stock tracker is getting an overdue makeover. The Hang Seng index compiler rewrote its rules to welcome companies with secondary listings and dual-class shares. That opens the door to Alibaba and others. It will help diversify baskets overstuffed with financial...

SoftBank's clouds come with some silver linings

[HONG KONG] The once seemingly impossible task of taming SoftBank Group boss Masayoshi Son appears to be gaining some traction. The US$90 billion company he leads posted a record 1.36 trillion yen (S$17.96 billion) annual loss, led by pain at office-sharing outfit The We Company. But a push by...

Virus could spur buyout appetite for Chinese food

[HONG KONG] Buyout funds could become a white knight for China's dining sector. McDonald's, KFC operator Yum China and hotpot chain Haidilao have all closed stores on the mainland as the coronavirus spreads. Until now, Chinese restaurants and private equity have been wary of each other. That may...