If bankers’ expectations are met, it would set up Hong Kong for a showdown with New York, the traditional host for the world’s hottest new-economy companies and Hong Kong’s closest rival for the global IPO crown. Companies such as smartphone maker Xiaomi and wealth management platform Lufax are among those mulling multi-billion dollar listings in Hong Kong next year, encouraged by a late-2017 rush of tech floats. Bankers estimate Xiaomi’s IPO could value the company at up to $100 billion, while Lufax was valued at $18.5 billion in its last funding round. Hong Kong raised $32.8 billion in equity capital in 2017, Thomson Reuters data shows, the lowest since 2008 when fundraising dried up during the global financial crisis. Robot DJ puts the tech into techno for Czech clubbersSpurring the current optimism are a series of recent hot tech floats.

Source: The Express Tribune December 29, 2017 11:15 UTC