Chenqi Technology Limited has recently filed for an initial public offering on the Hong Kong Stock Exchange, while Thai supermarket chain Big C Supercenter is eyeing a dual listing in Hong Kong and Bangkok.
Chenqi Technology to list on Hong Kong bourse
Chenqi Technology Limited, which owns ride-sharing platform Ruqi Mobility, has recently filed for an initial public offering on the Hong Kong Stock Exchange.
The Guangzhou-headquartered firm did not divulge the planned IPO size and timeline in its heavily-redacted application filed on August 18.
China International Capital Corporation Hong Kong Securities Limited, Hong Kong Huatai Financial Holdings (Hong Kong) Limited, and ABCI Capital Limited have been appointed as co-sponsors of the IPO.
The proceeds will help finance the firm’s R&D activities for autonomous driving and robotaxi services, as well as product upgradation and operational efficiency improvement of its mobility services, according to the filing.
The firm also plans to use the proceeds to make investments and acquisitions along the mobility industry value chain.
The news comes two months after the firm snagged 842 million yuan ($117.2 million) in a Series B round led by Guangzhou Automobile Industry Group, the controlling shareholder of GAC Group in June.
Big C Supercenter eyes dual listing in HK, Bangkok
Big C Supercenter, one of Thailand’s largest supermarket chains, has acquired Hong Kong-based grocery chain AbouThai, as the firm prepares for a dual listing in the city and Bangkok as early as Q4, local media outlet South China Morning Post (SCMP) reported on Wednesday.
Aswin Techajareonvikul, CEO and president of Big C Retail Corp, the holding firm behind Big C Supercenter, did not divulge the financial details behind the acquisition of AbouThai, a local retail chain that mostly sells products from Thailand, but he told SCMP that the firm will rebrand the AbouThai’s 24 stores in the city into Big C.
The news comes seven months after the firm reportedly chose investment banks Bank of America Corp and UBS Group AG to facilitate a possible initial public offering of around $1 billion on the Stock Exchange of Thailand, per Bloomberg, citing a source with knowledge of the matter.