Unisplendour Company, a Chinese language cloud computing and IT infrastructure firm, is planning to go public in Hong Kong to lift round $1 billion.
In accordance BloombergThe corporate has approached a number of banks to suggest positions within the potential itemizing, though particulars akin to measurement and timing are nonetheless being mentioned.
Unisplendour is presently listed on the Shenzhen Inventory Alternate and is valued at roughly $9.7 billion. Its shares have risen 45% over the previous yr. The corporate is a part of a rising pattern of mainland Chinese language corporations exploring twin listings in Hong Kong, a transfer that gives entry to worldwide capital.
Hong Kong has made it simpler for mainland corporations to listing by granting them exemptions that enable them to challenge no less than 15% of their shares on the Hong Kong inventory change. Talks are additionally underway to additional cut back limitations, displaying the change’s efforts to strengthen its relationships with Chinese language markets.
Based in 1999, Unisplendour is partially state-owned and operates below Tsinghua Unigroup. The corporate provides cloud computing providers, develops software program, and manufactures servers and pc storage methods. It additionally owns a majority stake in H3C, which runs Hewlett Packard’s Chinese language servers, storage and know-how enterprise.
Tsinghua Unigroup, the mum or dad firm of Unisplendour, confronted chapter in 2021 however underwent a restructuring course of. By 2022, Beijing Zhiguangxin Holding acquired the corporate, serving to it stabilize and refocus on enlargement.
The Hong Kong inventory change has been actively constructing stronger connections with mainland Chinese language markets. Fortune reported in April 2024 that the China Securities Regulatory Fee (CRVS) had taken new steps to deepen ties between the inventory markets of Hong Kong, Shenzhen and Shanghai. A key initiative is the Shanghai-Shenzhen-Hong Kong Inventory Join program, which allows cross-border investments between Hong Kong and mainland China.
Encouraging Chinese language corporations to listing in Hong Kong is a part of a broader technique to draw worldwide traders. Nonetheless, because of geopolitical considerations between the US and China, some corporations are unable to listing in Hong Kong. Fortune indicated that 2024 was a very troublesome yr for the change.
Regardless of these challenges, Unisplendour’s potential itemizing in Hong Kong displays the rising relevance of twin listings for Chinese language corporations searching for to broaden their monetary horizons. If it strikes ahead, it might sign renewed confidence in Hong Kong’s position as a bridge to world markets.
(Picture by Pixabay)
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