Robyn Mak joined Reuters Breakingviews in 2013. Previously, she was a Research Associate for the Global Policy Programs at the Asia Society in New York where she focused on US-Iran relations, US-Myanmar relations and sustainability issues in Asia. She has also worked as a researcher at the Carnegie Endowment for International Peace in Washington DC and interned at several consulting firms, including the Albright Stonebridge Group. She holds a masters degree in international economics and international relations from the Johns Hopkins School of Advanced International Studies and is a magna cum laude graduate of New York University.
The owner of ticket seller Maoyan wants to raise up to $1 bln in Hong Kong. Revenue has been climbing, but the unprofitable group is fending off Alibaba in a subsidy war. Box office numbers have cooled too, after a crackdown on fraudulent sales figures and several major flops.
Shares of the takeaway-to-taxi app rose as much as 7 pct in their Hong Kong debut, lifting its value to $56 bln. Phone maker Xiaomi’s fumbled start in July dented confidence. But Meituan anchored expectations and brought in big funds. It’s a sensible recipe for others too.
Investors are fleeing the country's $200 bln peer-to-peer lending sector, as Beijing steps up its crackdown. The squeeze has pushed many outfits like LexinFintech to seek more funding from banks. Margins will suffer, but it's a small price to pay for growth.