Fasten your seatbelts for the latest in a stream of new ride-sharing listings.
If all goes according to plan, Guangzhou-based Chenqi Technology Ltd. (9680.HK) will ride onto the Hong Kong Stock Exchange with a trading debut next Wednesday, completing its IPO after an initial application expired in February. The deal could raise as much as HK$1.3 billion ($166 million) and give Chenqi a market cap of HK$9.2 billion if the shares price at the top of their range, though a weak pricing could value it as low as HK$6.9 billion.
The deal is a relatively big one for Hong Kong, with five bookrunners. The list is also a very made-in-China affair, led by CICC, Huatai International and ABC International, indicating the majority of investors will probably come from China and Asia.