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Scott Murdoch - 2 Goldman Sachs - 1 Himani Sarkar - 1 Alexander Smith - 1 Aly - 1 Stephen Coates - 1
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☆ Beijing Fourth Paradigm to price Hong Kong IPO at low end of range -source
  + stars: | 2023-09-21 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com   time to read: +1 min
SYDNEY, Sept 21 (Reuters) - Chinese artificial intelligence startup Beijing Fourth Paradigm is set to price its shares at HK$55.6 each, the low end of the price range, to raise HK$1.023 billion ($131 million), a source with direct knowledge of the matter said. Fourth Paradigm is selling 18.4 million shares in the IPO and had flagged a price range to investors of HK$55.60 to HK$61.16 each, according to its regulatory filings. It is the second IPO this week to price at the bottom end of the range with Tuhu Car raising $145 million with the final price at the low point. Three cornerstone investors, headed by New China Capital Management, subscribed for about $96.8 million worth of Fourth Paradigm stock, which equates to 70.6% of the IPO, the filings showed. Fourth Paradigm counts Goldman Sachs (GS.N), Sinovation, Haitong International Investment and a number of state-backed funds as pre-IPO investors, according to filings.
Persons: Goldman Sachs, Scott Murdoch, Himani Sarkar, Alexander Smith Organizations: HK, Commerce Department, New China Capital Management, Paradigm, International Investment, Thomson Locations: Beijing, Sydney
☆ Chinese AI firm Fourth Paradigm leads Hong Kong IPO surge to raise $280 million
  + stars: | 2023-09-18 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com   time to read: +1 min
Fourth Paradigm (also known as 4Paradigm) sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsSYDNEY, Sept 18 (Reuters) - Three Chinese firms, led by AI software company Beijing Fourth Paradigm, are aiming to raise up to $280 million in Hong Kong initial public offerings launched on Monday. Beijing Fourth Paradigm, an AI startup, is aiming to raise up to $144 million by selling 18.4 million shares in a price range of HK$55.60 to HK$61.16 each, according to its regulatory filings. Separately, Chinese cloud hospital platform Neusoft Xikang is aiming to raise $81 million to $101 million by selling 133.8 million shares, regulatory filings showed. ZX Inc, the mobile games operator, is selling 18.97 million shares in a range between HK$11 to HK$14 each to raise between $27 million and $34 million, according to its prospectus.
Persons: Aly, Scott Murdoch, Stephen Coates Organizations: Artificial Intelligence, REUTERS, Rights, HK, New China Capital Management, Commerce Department, ZX Inc, Thomson Locations: Shanghai, China, Beijing, Hong Kong, Sydney
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