It is also expected that international giants such as China Mobile and Qualcomm Inc might also pour money into the IPO, making it quite a Page-3 event as far as business deals are concerned.
The Hong Kong Economic Journal first reported Li Ka-shing’s deal, and it is expected to raise the positive sentiment for the stock, given that Li enjoys a celebrity-status among HKeX investors.
Chinese stocks fall
As the bear attacked the benchmark, The Shanghai Composite Index, Chinese stocks fell, especially on US trade war fears. The market also saw investors ignore government checks including the reserve-ratio cut over the weekend. From January high, the slide has now wiped about $1.8 billion from the market.
Many analysts also cite that if the trend continues, it will really affect companies with higher dollar-debt.
The Shanghai Composite Index has now slid 14% – the most among major benchmarks. This has invited a troubling time for the Chinese government in Beijing, whose efforts seem to have gone in vain. China’s broadest measure of new credit slumped in May to the lowest in almost two years, data this month showed.