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United Kingdom

Julie Zhu

Cryptocurrency miner Canaan lets Hong Kong IPO application lapse

6:11am GMT

HONG KONG Canaan Inc, one of the world's leading cryptocurrency mining equipment makers, has let its application for a Hong Kong IPO of at least $400 million lapse, casting doubt on the prospects for other Chinese makers of bitcoin mining gear.

Cryptocurrency miner Canaan lets Hong Kong IPO application lapse

5:25am GMT

HONG KONG, Nov 15 Canaan Inc, one of the world's leading cryptocurrency mining equipment makers, has let its application for a Hong Kong IPO of at least $400 million lapse, casting doubt on the prospects for other Chinese makers of bitcoin mining gear.

Weak markets force Alibaba-backed Babytree to cut size of HK IPO

14 Nov 2018

HONG KONG Alibaba-backed online parenting firm Babytree Group launched a Hong Kong IPO of up to $281 million on Wednesday, far below what the Chinese company had hoped to raise, as weak markets force firms to scale back their funding ambitions.

Weak markets force Alibaba-backed Babytree to cut size of HK IPO

14 Nov 2018

HONG KONG, Nov 14 Alibaba-backed online parenting firm Babytree Group launched a Hong Kong IPO of up to $281 million on Wednesday, far below what the Chinese company had hoped to raise, as weak markets force firms to scale back their funding ambitions.

Tencent-backed Chinese travel firm slashes HK IPO size amid weak markets

13 Nov 2018

HONG KONG Tencent Holdings-backed online Chinese travel firm Tongcheng-Elong launched a far smaller-than-expected Hong Kong IPO of up to $233 million on Tuesday, amid a weak stock market and a string of poor performances from recent listings in the city.

Tencent-backed Chinese travel firm slashes HK IPO size amid weak markets

13 Nov 2018

HONG KONG, Nov 13 Tencent Holdings-backed online Chinese travel firm Tongcheng-Elong launched a far smaller than expected Hong Kong IPO of up to $233 million on Tuesday, amid a weak stock market and a string of poor performances from recent listings in the city.

Alibaba's on-demand online services unit valued at $30 billion - sources

08 Nov 2018

HONG KONG Alibaba Group's newly formed on-demand online services unit has rocketed in value to as much as $30 billion after raising $4 billion (3.05 billion pounds) in fresh funds, people with knowledge of the situation told Reuters.

Exclusive: Chinese upstart Luckin Coffee seeks funds to double valuation to $2 billion - sources

06 Nov 2018

HONG KONG Luckin Coffee, an up-and-coming coffee chain with ambitions to challenge Starbucks Corp in China, is targeting a valuation of $1.5 billion to $2 billion as it launches a new round of funding, people familiar with the matter told Reuters.

Exclusive: China's Wanda Group explores Legendary Entertainment stake sale - sources

26 Oct 2018

HONG KONG/NEW YORK China's Dalian Wanda Group is exploring a partial sale of its Hollywood film studio and the full sale of its sports assets in its latest push to reduce offshore holdings under pressure from Beijing, sources familiar with the matter said. | Video

World News

Saudi Arabia seeks death penalty in Khashoggi murder case

Saudi Arabia's public prosecutor is seeking the death penalty for five out of 11 suspects charged in the murder of journalist Jamal Khashoggi, his office said on Thursday, as the kingdom tries to contain its biggest political crisis in a generation.