Equity

The US giant will pay the money upfront for distribution rights for SSGJ-707 outside of China; the deal could be worth up to $4.8bn and Pfizer will also invest $100m into the HKEX listed firm.

The dual listing will help keep momentum in Hong Kong's equity markets, with the majority of the $4.5bn proceeds raised by the Shenzhen based global EV player set to help build a factory in Hungary; a greenshoe option takes the raising to $5.2bn.

The Hong Kong-headquartered Asian life insurer, backed by billionaire Richard Li, has made several similar filings in recent years without triggering an IPO.

Minority owner Partners Group said the IPO proceeds will be used to further grow the Hangzhou-headquartered restaurant's 493 outlets and establish a centralised food processing facility; Clifford Chance, Citi and CMB International Capital were involved in the deal.

Markets have rallied after a weekend agreement to reduce tariffs to 10% in China and 30% in the US is good news for companies, markets, and the US dollar; however, pharmaceutical stocks are in focus as US president Donald Trump tries to reduce drug prices.

The SAR's stock exchange is enjoying a boom from Chinese firms looking to expand and tap more investors; the local economy also grew by 3.1% in the first quarter.

Transaction is priced at $25.6 per share equivalent for 10,818,510 shares of Kakao that SK Telecom holds.

The DRs represent HKEX-listed Chinese firms including Alibaba, Tencent and Xiaomi.

Shashwat Tewary has joined from Sidley Austin and will help advise companies and investments banks on transactions including IPOs, bonds, REITs and restructuring.