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☆ China EV maker Leapmotor set to raise $800 million in Hong Kong IPO
▼ + stars: | 2022-09-25 | 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: +3 min

HONG KONG, Sept 25 (Reuters) - Chinese electric vehicle (EV) maker Zhejiang Leapmotor Technology is set to raise $800 million by pricing its shares at HK$48 ($6.12) each in its Hong Kong initial public offering (IPO), said two sources with direct knowledge of the matter. Hong Kong IPO volumes have fallen nearly 90% as global markets remain roiled by China regulatory uncertainty, rising interest rates, high inflation and the Russia's war in Ukraine. Despite the Leapmotor and CALB deals, plus China Vanke's property services unit Onewo Inc raising $733 million, dealmakers are cautious there will be a solid rebound in new share sales in Hong Kong and overseas before 2023. "It feels that these IPOs are kind of one-off transactions and think the Hong Kong market is not yet fully opened up," said Shifara Samsudeen, LightStream Research analyst who publishes on Smartkarma. ($1 = 7.8493 Hong Kong dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Scott Murdoch; Editing by Himani Sarkar and William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Rising rates, price slump deal double blow to Hong Kong homeowners
▼ + stars: | 2022-09-22 | by ( Clare Jim | ) www.reuters.com time to read: +4 min

An aerial view shows Choi Hung public housing estate and other residential buildings with the Lion Rock peak in the background, in Hong Kong, China June 3, 2021. Home prices in Hong Kong, the world's most unaffordable market by income ratio to house values, are expected to drop around 10% this year, the first fall since 2008. Interest rates in Hong Kong tend to move in lockstep with U.S. rates, as its currency is pegged to the greenback, putting upward pressure on interbank and mortgage rates. Many sellers are those leaving Hong Kong for good or residents forced to cash in to help struggling businesses. ($1 = 7.8488 Hong Kong dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Clare Jim; Editing by Anne Marie Roantree and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ China Evergrande mulls asset transfer to property unit for debt payment
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterA partially removed company logo of China Evergrande Group is seen on the facade of its headquarters in Shenzhen, Guangdong province, China January 10, 2022. REUTERS/David KirtonSept 21 (Reuters) - China Evergrande Group (3333.HK) said on Wednesday it was considering transferring some assets to its property unit to settle some of the unit's debt payments. In July, the company revealed that loans secured by Evergrande Property Services (6666.HK) had been diverted to the parent group, which led to Evergrande Group's chief executive and finance head stepping down. read moreDeposits worth 13.4 billion yuan ($1.90 billion) held by the property unit had been used as collateral for pledge guarantees and seized by banks. Evergrande Group added that it had sold 18.16 billion yuan worth of properties from January to August, and it has 706 pre-sold but undelivered construction projects.

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