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The drop comes after another Hong Kong stock, ArtGo, fell 98% in a single day last week.
Alibaba’s Hong Kong IPO has launched at US$24 a share – read the CEO’s full letter to interested buyers
"The future of Hong Kong remains bright," he said.
The LSE has said it had "fundamental concerns about the key aspects" of the Hong Kong firm's bid. London Stock Exchange shares sank on the news.
The London Stock Exchange rejected its Hong Kong rival’s $37 billion takeover bid, saying the Refinitiv deal is ‘on track’
The LSE board said it had concerns about the "key aspects of the conditional proposal: strategy, deliverability, form of consideration and value."
The Hong Kong Exchange’s bid for the LSE would thwart the London firm’s $27 billion Refinitiv deal. Here’s why that’s a ‘...
The Honk Kong Stock Exchange proposed a $37 billion takeover of the London Stock Exchange. It will face quite a few hurdles, analysts say.
The Hong Kong exchange announced the proposal on its website, saying the deal would require the LSE to drop its planned $27 billion takeover of Refinitiv.
Chinese e-commerce giant Alibaba will postpone its rumoured upcoming listing on the Stock Exchange of Hong Kong.
Alibaba has reportedly filed confidentially for a Hong Kong listing that could raise up to $20 billion
Alibaba, which completed the biggest IPO in US history back in 2014, is set to test the Hong Kong market
Chinese crypto mining company Bitmain has filed IPO documents with the Hong Kong Stock Exchange. The preliminary documents show Bitmain had revenues of $2.8 billion in the first half of 2018.