HKG:2523

3 stories mentioning HKG:2523Updated 47d ago

Every FINWIRES story that references HKG:2523, newest first.

EKH Scraps HK$138 Million Hong Kong IPO

EKH (HKG:2523) said it will not proceed with its Hong Kong initial public offering and planned listing, according to a bourse filing Wednesday.The Singapore-based container depot operator said it made the decision after consulting with the overall coordinator and will explore potential alternatives.Application monies, including related fees and levies, will be refunded in full without interest by July 13. No share certificates will be issued.The company had been seeking to raise up to HK$138.3 million through the offering.

HKG:2523

Asia56d ago

Hong Kong Stocks Fall Amid Middle East Uncertainty; Nine Firms File for IPO

Hong Kong stocks closed lower Tuesday as uncertainty returned in the Middle East, raising bets for a U.S. rate hike.The Hang Seng Index fell by around 145.66 points, or roughly 0.6%, to end at 22,881.02, while the Hang Seng China Enterprises Index decreased by 47.04 points, or 0.6%, to end at 7,558.30.U.S. President Donald Trump said U.S. and Iranian officials will meet in Qatar on Tuesday after Tehran "requested" talks following days of reciprocal attacks that strained their interim agreement, according to AL Jazeera.However, Iranian Foreign Ministry spokesman Esmaeil Baghaei said the Iranian delegation has no talks scheduled with the U.S. and is visiting Qatar only to secure the release of frozen assets.Investors are now eyeing progress in the possible U.S.-Iran talks and U.S. June jobs data, scheduled to be released Thursday, for hints on the U.S. Federal Reserve's interest rate decision at its July 28-29 meeting.So far, traders are pricing in about a 64% probability of a September increase, Reuters reported, citing the CME FedWatch tool.In local development, the bad-loan ratio across Hong Kong banks declined in the first quarter of 2026, according to a quarterly update released by the Hong Kong Monetary Authority.The classified loan ratio of the banking sector decreased to 1.87% at the end of March from 2.01% at the end of December 2025, the HKMA said.In corporate news, nine firms filed to go public in Hong Kong in one of the busiest days for initial public offering filings.Among the companies looking to go public were Alibaba-backed Chaozhou Three-Circle (HKG:6951, SHE:300408), Befar Group (HKG:6745, SHA:601678), Nexchip Semiconductor (China) (HKG:2249), and Luxshare Precision Industry (SHE:002475, HKG:2475).Others included Jiangxi Qiyunshan Food (HKG:2797), Guangdong Dtech Technology (HKG:1377), and Rokae (Shandong) Robotics Group (HKG:3752).EKH (HKG:2523) and Rigol Technologies (HKG:0537, SHA:688337) are also among the firms looking to go public.

Hang SengHKG:0537HKG:1377HKG:2249HKG:2475HKG:2523HKG:2797HKG:3752HKG:6745HKG:6951SHA:601678SHA:688337SHE:002475SHE:300408

International56d ago

EKH Launches HK$138 Million Hong Kong IPO

EKH (HKG:2523) launched its Hong Kong initial public offering on Tuesday, seeking to raise up to HK$138.3 million.The Singapore-based container depot operator is offering 51.6 million shares at an indicative price range of HK$2.20 to HK$2.68 each, according to a Hong Kong bourse filing.The offering comprises 5.2 million shares for Hong Kong investors and 46.4 million shares for international investors, subject to reallocation and the over-allotment option.The offer price is expected to be determined by July 9, with allocation results due by July 10, ahead of the company's planned trading debut on July 13.Net proceeds will be used primarily to fund the construction and development of the company's Mega Depot in Singapore as part of its expansion of the integrated logistics hub.The company also plans to use the funds to pay borrowings related to the construction of the Mega Depot and to boost working capital.Quam Capital and Alliance Capital Partners are serving as joint sponsors, while Quam Securities is acting as sponsor-overall coordinator.

HKG:2523

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