Unisplendour Company, a Chinese language cloud computing and IT infrastructure firm, is planning a Hong Kong itemizing to lift round $1 billion.
In response to Bloomberg, the corporate has approached a number of banks to pitch for roles within the potential itemizing, though particulars equivalent to measurement and timing are nonetheless being mentioned.
Unisplendour is at the moment listed on the Shenzhen Inventory Trade and is valued at roughly $9.7 billion. Its shares have climbed 45% over the previous 12 months. The corporate is a part of a rising development of mainland Chinese language companies exploring twin listings in Hong Kong, a transfer that gives entry to worldwide capital.
Hong Kong has made it simpler for mainland corporations to listing by granting waivers that permit them to concern a minimum of 15% of their shares on the Hong Kong change. Talks are additionally underway to additional decrease the limitations, displaying the change’s efforts to strengthen its relations with Chinese language markets.
Based in 1999, Unisplendour is partially state-owned and operates underneath Tsinghua Unigroup. The corporate supplies cloud computing companies, develops software program, and manufactures servers and computing storage methods. It additionally holds a majority stake in H3C, which manages Hewlett Packard’s Chinese language server, storage, and know-how enterprise.
Tsinghua Unigroup, Unisplendour’s mum or dad firm, confronted chapter in 2021 however underwent a restructuring course of. By 2022, Beijing Zhiguangxin Holding acquired the corporate, serving to it stabilise and refocus on enlargement.
Hong Kong’s inventory change has been actively constructing stronger connections with mainland Chinese language markets. Fortune reported in April 2024 that the China Securities Regulatory Fee (CSRC) had taken new measures to deepen ties between the inventory markets of Hong Kong, Shenzhen, and Shanghai. One key initiative is the Shanghai–Shenzhen–Hong Kong Inventory Join program, which allows cross-border investments between Hong Kong and mainland China.
Encouraging Chinese language corporations to listing in Hong Kong is a part of a broader technique to draw worldwide buyers. Nonetheless, as a consequence of geopolitical considerations between the USA and China, some corporations are unable to listing in Hong Kong. Fortune indicated that 2024 was a very powerful 12 months for the change.
Regardless of these challenges, Unisplendour’s potential Hong Kong itemizing displays the rising relevance of twin listings for Chinese language corporations seeking to broaden their monetary horizons. If it strikes ahead, it would sign renewed confidence in Hong Kong’s function as a bridge to international markets.
(Picture by Pixabay)
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