Tencent cash pile to double with new mega bond plan
In writing my final post of the week, I’ve just come to the realization that all 3 of my daily posts this Friday mention leading Internet firm Tencent (HKEx: 700), which has just announced a massive bond issuing program almost certainly aimed at future M&A. Perhaps it’s not surprising that Tencent’s name is showing up in almost everything related to the Internet in China these days, since the company is quickly becoming the nation’s dominant online company alongside leading e-commerce firm Alibaba and search leader Baidu (Nasdaq: BIDU). Read Full Post…
The tide of Chinese firms rushing to list in the US continues, with big new moves coming from security software specialist Cheetah Mobile and Leju, a unit of online real estate agent E-House (NYSE: EJ). Cheetah has filed for a New York listing to raise a hefty $300 million, in what would have been considered a major deal just a half year ago but now looks rather routine in the current wave of new offers by Chinese tech firms. Meantime, E-House is continuing its own IPO drive for Leju, which has just announced a new tie-up that will allow its users to invest in US real estate. Read Full Post…
Perhaps I was a bit hasty a couple of weeks ago in declaring that a new IPO plan by online real estate company E-House (NYSE: EJ) for its Leju unit looked like the recycling of an old listing that flopped and was eventually privatized. Since that initial announcement, E-House has followed with a couple of new plans for Leju, both involving collaboration with Tencent (HKEx: 700), China’s biggest Internet company. In the latest of those, E-House has just announced that Tencent will become a strategic investor in Leju, paying $180 million for 15 percent of the unit. (company announcement) Read Full Post…
The following press releases and media reports about Chinese companies were carried on March 22-24. To view a full article or story, click on the link next to the headline.
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EU, China End Wine Dispute Ahead Of Xi’s European Tour (English article)
After an unsuccessful earlier listing for one of its units, online real estate giant E-House (NYSE: EJ) is preparing to try again with plans for a New York IPO for its Leju division. The company has been quite cagey in this latest listing plan, giving little details about Leju’s background and why the unit deserves its own separate listing. Perhaps that’s because a little checking reveals that this “new” offering is really just a recycled listing for a previous company jointly-owned by E-House and leading web portal Sina (Nasdaq: SINA). Read Full Post…
The following press releases and media reports about Chinese companies were carried on March 11. To view a full article or story, click on the link next to the headline.
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JD.com Rolls Out Financial Product Similar To Yu’ebao To Boost IPO (Chinese article)
E-House (NYSE: EJ) Announces Leju’s Plan For Proposed IPO (PRNewswire)
Home Inns (Nasdaq: HMIN) to Acquire Yunshang Siji Hotel Management Co (PRNewswire)
ZTE (HKEx: 763), The9 (Nasdaq: NCTY) to Release Game Console – Source (English article)
Ackman To Renew Attack On Herbalife (NYSE: HLF) With Aim On China Business (English article)
