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BUSINESS1d agoFew Hong Kong investors take interest in listing by Africa’s top phone maker TranssionShenzhen Transsion Holdings drew a lukewarm response for its HK$3.36 billion (US$428 million) Hong Kong share offering, heightening worries over market sentiment for new listings in the fourth quarter. The maker of Africa’s bestselling phones closed its bookbuilding on Monday, with preliminary figures showing the offering attracted about 14,000 applications and was oversubscribed roughly 3.5 times, according to people familiar with the matter. Retail participation in Hong Kong initial public...South China Morning Post
BUSINESSOct 6China’s Transsion, Africa’s top phone maker, targets US$500 million Hong Kong listingShenzhen Transsion Holdings, the maker of Africa’s bestselling phones, aims to kick off its Hong Kong share offering on Wednesday to raise up to US$500 million ahead of a targeted October 15 listing, according to people familiar with the matter. The company, which already trades in Shanghai and has a market capitalisation of 62 billion yuan (US$9.24 billion), could offer up to 132 million offshore ordinary shares, according to approval documents from the China Securities Regulatory Commission...South China Morning Post
WORLDAug 18Hong Kong customs arrests 10 over HK$56 million cannabis haul bound for Europe, AfricaHong Kong customs has arrested 10 people and seized suspected cannabis buds worth an estimated HK$56 million (US$7 million) in a month-long operation targeting a syndicate accused of smuggling the drug from Southeast Asia to Europe and Africa via the city. Code-named Fire Mesh, the operation ran from July 13 to Monday this week and resulted in the seizure of about 240kg (529lbs) of cannabis buds, the Customs and Excise Department said on Tuesday. “We targeted transit baggage from Southeast Asia...South China Morning Post
BUSINESSJul 24Hong Kong’s TDC to open Egypt office as it eyes African, Nordic marketsHong Kong’s trade promotion body will set up a new office in Egypt within the next nine months to expand its footprint in Africa, while recalibrating resources for Nordic countries through its European bases as traditional markets face slower growth. Hong Kong Trade Development Council chairman Frederick Ma Si-hang said on Friday that the organisation had revamped its corporate structure to better help companies in six new industry clusters develop promotional strategies. Ma, a former commerce...South China Morning Post
BUSINESSJul 14Nigeria, Hong Kong sign double taxation agreement to boost investmentAccording to the minister, although the signing ceremony was held virtually, its significance remained profound as it reflected the shared commitment of both parties to strengthening economic cooperation and creating a more conducive environment for cross-border trade and investment. The post Nigeria, Hong Kong sign double taxation agreement to boost investment appeared first on Vanguard News.Vanguard Nigeria
BUSINESSJul 14Nigeria, Hong Kong sign double taxation treaty to boost trade, investmentThe agreement is expected to eliminate double taxation on income earned in both jurisdictions, strengthen tax cooperation and encourage greater cross-border investment. The post Nigeria, Hong Kong sign double taxation treaty to boost trade, investment appeared first on Premium Times Nigeria.Premium Times
CONFLICTJul 4PLA Navy officer recalls dramatic Sudan evacuation at Hong Kong barracks open dayA PLA Navy officer who helped evacuate hundreds of Chinese nationals during the Sudanese civil war has recounted that many burst into tears upon arriving at the ship, telling visitors at a barracks open day in Hong Kong the experience had left an indelible mark. The mission was carried out by the guided-missile destroyer Nanning, which along with the guided-missile frigate Hengyang, is making a five-day port call as part of celebrations marking the 29th anniversary of the city’s return to...South China Morning Post