Busy Ming Group's Hong Kong IPO Allegedly Secures Tencent, Fidelity, and Temasek as Key Cornerstone Investors
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
Source: aastocks
Busy Ming Group IPO: Mainland Chinese snack chain Busy Ming Group has cleared the Hong Kong Stock Exchange (HKEX) for its IPO, aiming to raise approximately USD 500 million (around HKD 3.9 billion).
Cornerstone Investors: The company has reportedly secured cornerstone investments from major firms including Tencent, Fidelity International, and Temasek.
Short Selling Activity: The stock has seen significant short selling activity, with Busy Ming Group's short selling amounting to $187.51 million and a ratio of 14.76%.
Market Context: The IPO subscription for Busy Ming Group could begin as early as today, amidst a backdrop of fluctuating stock prices and ongoing interest in Chinese tech companies.
Analyst Views on 00388
Wall Street analysts forecast 00388 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 00388 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 427.400
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Current: 427.400
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
