Year: 2020

(Bloomberg) — Hong Kong’s Hang Seng Index will include dual class shares and secondary listings, allowing Chinese giants such as Alibaba Group Holding Ltd. into the city’s benchmark to provide a potential boost for passive investors who have for years struggled with lackluster returns.Hang Seng Indexes Co., announced the long-awaited change on Monday in Hong Kong, a step that will help move the benchmark away from a heavy dominance of financial shares. Dual class and secondary listings will each be subject to a 5% weighting cap, surprising some investors who had been hoping for a 10% weighting for Alibaba, for …read more […]

The Hang Seng Index made rule changes on Monday to allow it to incorporate Chinese internet giants Alibaba, Xiaomi and Meituan Dianping, a move set to shake up the composition of the 50-year-old index. “There is a perception that local indices like Hang Seng aren’t necessarily reflective of the opportunity set available out there,” said Michael Lai, China equities portfolio manager at Franklin Templeton. Companies from Greater China with a secondary listing in Hong Kong and those with two classes of shares carrying different voting rights will be included in the index, starting from August, with a weighting …read more […]

Uber Technologies Inc.’s (UBER) latest stock offer for rival food delivery company GrubHub Inc. (GRUB) is said to have been rejected as merger talks continued over the weekend.The Wall Street Journal reported that talks between Grubhub Chief Executive Officer Matt Maloney and Uber CEO Dara Khosrowshahi on Sunday indicated that Uber’s latest offer of 1.9 of its shares for each GrubHub share is too low. Khosrowshahi said he might see room to bump up the offer to 1.925 Uber shares. However, that is still well below the price GrubHub had been seeking, the report said.Discussions are still ongoing with an …read more […]

May.18 — Ryanair Holdings Plc Chief Executive Officer Michael O’Leary says that support by German and French governments for their airline industries is “illegal” and will “distort the market.” He made the comments after Europe’s biggest low-cost carrier boosted its liquidity with a 600 million-pound ($726 million) loan backed by the U.K. government. He speaks on “Bloomberg Markets: European Open.” …read more […]

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