Chinese Online Property Platform KE Holdings Debuts in Hong Kong
- Company listed shares in the Asian city by way of introduction
- Stock in New York has plunged over 40% since the 2020 IPO
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KE Holdings Inc., a Chinese online property platform backed by SoftBank Group Corp., debuted in Hong Kong on Wednesday after choosing a listing path that doesn’t involve selling new shares or raising funds.
The stock ended its first trading session at HK$30.75, after opening at HK$30. KE Holdings’ dual primary-listing in Hong Kong was by way of introduction, a method used by a slew of US-traded Chinese firms to build an investor base closer to home given the risk of possible delisting from American exchanges due to auditing requirements.