Article taken from: s.chinadailyhk.com
Fintech firm Linklogis opens 9.9% higher in HK IPO debut By Reuters Friday, April 09, 2021, 13:58 By Reuters A screen displays stock figures outside the Exchange Square complex, which houses the Hong Kong stock exchange, in Hong Kong, on Sept 16, 2019. PAUL YEUNG / BLOOMBERG) HONG KONG – Shares of Chinese mainland fintech firm Linklogis Inc, which is backed by technology giant Tencent Holdings, opened 9.9 percent higher in their Hong Kong Special Administrative Region debut on Friday after the company raised US 02 billion in its initial public offering . […] The retail portion of the IPO was oversubscribed 98.46 times while the institutional tranche was covered 14.8 times, according to Linklogis Hong Kong’s Hang Seng Index was down 0.40 percent in early trading on Friday while the Hang Seng Tech Index was up 0.17 percent. Chinese fintech companies have come under greater scrutiny from mainland regulators since a US$37 billion IPO of Ant Group was shelved in November. […] Linklogis is also part of a consortium that has been granted a Singapore wholesale digital bank licence that is due to launch in 2022.
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