Caixin
May 12, 2022 03:28 AM
FINANCE

Chinese Online Property Platform KE Holdings Debuts in Hong Kong

KE Holdings’ IPO in the U.S. in 2020 raised about $2.44 billion, including a greenshoe portion.
KE Holdings’ IPO in the U.S. in 2020 raised about $2.44 billion, including a greenshoe portion.

(Bloomberg) — KE Holdings Inc., a Chinese online property platform backed by SoftBank Group Corp., debuted in Hong Kong Wednesday after choosing a listing path that doesn’t involve selling new shares or raising funds.

The stock ended its first trading session at HK$30.75 ($3.92), after opening at HK$30. KE Holdings’ dual primary listing in Hong Kong was by way of introduction, a method used by a slew of U.S.-traded Chinese companies to build an investor base closer to home given the risk of possible delisting from American exchanges due to auditing requirements.

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