News Snapshot:
China Tourism Group Duty Free has received approval from the Hong Kong stock exchange’s listing committee for its flotation on the main board, according to a filing late on Tuesday. The company will start book building as soon as Friday and aims to raise around US$2.7 billion in what could be the biggest initial public offering (IPO) in the city this year, according to market sources. The company’s mainland stock has lost 7.8 billion yuan (US$406 million) in market value so far this week as Covid-19 disruptions took hold in Hainan province. This marks the second attempt by the world’s...
