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The announcement said that US Energy Secretary Wright will sign the US-Saudi Arabia energy cooperation agreement.On May 13, the U.S. CPI annual rate declined in April, but rose 0.2% month-on-month, compared with a decline of 0.1% in March. Gold prices fell to their lowest point in more than a month on Monday after the Sino-U.S. trade talks, but recovered some lost ground on Tuesday as uncertainty about future trade negotiations lingered. Fawad Razaqzada, market analyst at Forex.com, said: "The long-term bullish narrative for gold prices has not yet completely collapsed. The rebound that has driven gold prices up began long before the tariff drama, and its roots are in macro themes such as high inflation, geopolitical tensions and central bank uncertainty."May 13, three sources familiar with the plan said on Tuesday that Trumps senior envoys Vitkov and Kellogg will travel to Istanbul on Thursday for potential talks on how to end the Russian-Ukrainian conflict. Earlier, an aide to Ukrainian President Zelensky said Zelensky would only participate in the talks if Russian President Putin was present. The Kremlin said on Tuesday that the Russian delegation was preparing to travel to Turkey for talks. However, the Kremlin has not yet revealed whether Putin will go to Turkey. When asked directly who will represent Russia in the talks, Kremlin spokesman Peskov said: "As soon as the president thinks the time is right, we will announce the representative." A senior US official said Washingtons expectation is that Russia will not announce their plans until early Thursday morning. Trump said on Monday that he would fly to Istanbul for the meeting if necessary.On May 13, Brian Colton, chief economist at Fitch Ratings, believed that core inflation is currently in the optimal range, but this state may be difficult to sustain. Core commodity prices have not yet fully reflected the impact of tariffs since February, while service inflation has continued to slow moderately; the three-month month-on-month annualized growth rate of core inflation has fallen below 3%. However, service inflation remains stubborn, and car prices have begun to rise again. As the inventory of goods imported before the tariff increase is gradually consumed, core commodity inflation is likely to rise in the coming months.United Auto Workers (UAW): More than 99% of UAW members at Lockheed Martin authorized a strike.

Onewo, a China Vanke Subsidiary, Seeks $784 Million in an IPO in Hong Kong

Aria Thomas

Sep 19, 2022 10:40

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Onewo Inc, the property management branch of China Vanke Co Ltd (SZ:000002), is planning a long-awaited initial public offering in Hong Kong to generate up to HK$6.2 billion ($784 million).


The company would sell between HK$47.1 and HK$52.7 per share for a total of 116.7 million shares. If investors exercise their over-allotment option, the company will offer 134.2 million shares for about HK$7.1 billion to raise capital.


China Vanke revealed the amount to the Hong Kong exchange in a file. Earlier reports indicated that the corporation was seeking to raise up to $1.5 billion. Nonetheless, it is one of Hong Kong's largest IPOs this year.


Upon completion of the deal, Onewo's market value will vary between HK$54.97 billion and HK$61.51 billion. The joint sponsors of this offering are Goldman Sachs (NYSE:GS), Citigroup (NYSE:C), and Citic Securities.


Oneto offers property management services that incorporate artificial intelligence and outsourcing strategies. Vanke owns around 60% of the business.


This offering coincides with a catastrophic decline in China's real estate market, which has been exacerbated this year by a series of COVID lockdowns. Several large developers are experiencing a liquidity crunch as a result of mortgage boycotts and heightened regulatory scrutiny, while new house sales fall.


China Vanke has defied the slowdown thus far, as seen by its month-to-month profit and revenue growth in its interim financial reports. However, both the firm and Onewo have warned of a future fall in the property market due to other difficulties.


This year, the Hong Kong initial public offering (IPO) market has also slowed due to COVID lockdowns and increasing regulatory scrutiny in China.


Hong Kong's benchmark stock index, the Hang Seng, has plummeted by about 25 percent in the previous year, and local market prices are also under pressure.

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