Greater China
The company raised around $51m by offering 3 million ADS.
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Indonesia
It is the first Indonesian issuer to complete a dual listing on HKEX.
World
The AI startup is targeting a valuation of up to $1 trillion.
The recovery in listings has also been helped as large Chinese companies increasingly seek offshore funding.
Hong Kong-listed Z.ai plans dual listing in Shanghai.
Rest of Asia
The deal would be the second-biggest share sale after a record $85.7b IPO by SpaceX.
Lingyi was among six companies that launched Hong Kong offerings last week.
The strong retail demand highlights appetite for one of China’s largest recent listings.
A downgrade could trigger as much as $13 billion in outflows from Indonesian equities.
The company could raise about $900 million from the offering.
