New Stamp Duty Negative on Transaction Volume in the NearTerm
The Hong Kong government announced a new ad valorem stamp duty, or AVD, late on Nov. 4. Effective Nov. 5, except for first-time homebuyers who are...
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FWD IPO Lockup - US$1.9bn Cornerstone and Pre-IPO Investor Release
FWD Group Holdings (1828 HK), a pan-Asian life insurer founded by Richard Li, raised around US$442m in its HK IPO in July 2025. Its IPO-linked...
566 Views
Ping An (2318 HK) - 2Q NBV Stabilized Against a High Base; Expect to See Group OPAT Turnaround
Ping An reported resilient 1H24 results with NBV +11% YoY on a like-for-like basis to RMB 22.3bn, outpacing our forecast / market consensus by 3.6%...
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Shulan Health Management Pre-IPO - Still Ramping up but Only a Small Player
Shulan Health Management (1807987D CH) is looking to raise around US$150m in its Hong Kong IPO. In this note, we talk about the firm’s historical...
536 Views
Sunshine Insurance Group IPO Lock-Up - US$5.3bn Lockup Release Tomorrow, with No Liquidity
Sunshine Insurance Group (6963 HK) (SIG), a life, health and P&C insurance company, raised around US$850m in its HK IPO in Dec 2022. Its IPO linked...
635 Views