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2 Upcoming IPOs to watch in 2022 Hong Kong Stock Market

If investing in IPOs interests you, then there is no better time to invest than now. In 2022 first half, there are two IPOs coming to Hong Kong stock market, both of them much anticipated.

FWD Group

According to Wikipedia, FWD Group is a multinational insurance company based in Hong Kong. Founded in 2013 as the insurance arm of Pacific Century Group, FWD Group sells life and medical insurance, general insurance and employee benefits in Asia. The company had USD$50.9 billion in assets under management in 2020 and in 2021 was managing US$63 billion in assets. FWD currently operates in Hong Kong, Japan, Macau, Singapore, Thailand, Philippines, Indonesia, Vietnam, Malaysia and Cambodia.

On June 17, 2021, FWD filed for a US IPO. However, Reported by Bloomberg on Dec 21, 2022, the company said that it is considering other alternatives and has cancelled its New York listing. FWD is considering an IPO in Hong Kong early 2022 instead.

According to the latest development, FWD Group has raised $200 million in new funding before of its planned IPO. The new investors including ORIX Corp and Huatai Securities Co., which are participated in the private placement.

DiDi Global Inc. (DIDI)

DiDi Global Inc. is the world’s largest mobility technology platform. The platform allows user to shared mobility with a comprehensive range of safe, affordable and convenient mobility services, including ride hailing, taxi hailing, chauffeur, hitch and other forms of shared mobility. Currently, the company is built up with four business units including shared mobility, auto solutions, electric mobility and autonomous driving. The company operates in nearly 4,000 cities, across 15 countries. The global platform provided services to over 493 million annual active users and powered 41 million average daily transactions for the twelve months ended March 31, 2021.

On 4 July 2021, DiDi Global Inc. (DIDI) announced that according to the announcement posted by the Cyberspace Administration of China (the “CAC”) on July 4, 2021, the CAC stated that it was reported and confirmed that the “DiDi Chuxing” app had the problem of collecting personal information in violation of relevant PRC laws and regulations. Pursuant to the PRC’s Cybersecurity Law, the CAC notified app stores to take down the “DiDi Chuxing” app in China, and required the Company to strictly comply with relevant laws and regulations, follow the relevant standards set by the PRC government authorities, and rectify the problem to ensure the security of users’ personal information. Once the “DiDi Chuxing” app is taken down from app stores in China, the app can no longer be downloaded in China, although existing users who had previously downloaded and installed the app on their phones prior to the takedown may continue using it.

Reported by South China Morning Post on Jan 12, 2022, Didi Global is preparing its initial public offering in Hong Kong in the second quarter, as the company prepares to delist from the New York Stock Exchange.

On 11 Feb 2022, DiDi Global Inc. (DIDI) ‘s stock price closed at USD 3.99 with 71.50% below its IPO price USD 14.

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