News Snapshot:
“Chinese fintech firm Linklogis rose by as much as 11% on its debut in Hong Kong after pricing its US$1 billion initial public offering near the midpoint of an indicative range,” reported Bloomberg . Details: The company’s shares increased by as much as 11% after it had priced them at HK$17.58 (US$2.26) each. The Tencent-backed firm didn’t make a profit for the last three years, though its revenue increased by 47% in 2020, according to its prospectus. Context: The development comes after fintech firm Bairong fell by 16% during its first day of trading in Hong Kong last week. Shares...
