China property/KE Holdings: Hong Kong IPO hedges risk of US delisting Times News UK


Source: timesnewsuk.com timesnewsuk.com

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SoftBank’s founder Masayoshi Son told his lieutenants this spring to halt any new investment ideas. He has enough on his plate already. A threatened US delisting of SoftBank-backed KE Holdings, parent of Chinese online housing platform Beike, has encouraged Son to list KE in Hong Kong. Shares of KE, which also controls real estate property brokerage brand Lianjia, rose as much as 8 per cent on its first day of trading on the Hong Kong Stock Exchange on Wednesday, finishing with a market value of $16bn. The dual primary listing in Hong Kong provides an effective hedge for KE. In...