The History of the Mobile Payment Experience #INFOGRAPHIC.
it's not because you have not heard of it that it did not exist before. What Chinese companies do well is copy existing technologies but with a horrible UX. Wechat is another example with their stupid pictures expiry dates.
My main concern buying a Chinese company would be where the data goes, probably straight to CCP. There is a big chance they get banned in the US (if Grump gets re-elected) or break GDPR rules.
The Yahoo story is far more interesting than Coca Cola. But, Yahoo did seemingly resolve and settle disputes and have no claims...
I've applied for some, for the giggles really.
But honestly, the IPO is extremely over-subscribed (100x last I heard). I'm really hoping not to get too much of an allocation myself anyway.
From what I figure, there's tons of money rushing into Hong Kong in order to invest in this IPO. It's pushed the HKD to the limit of its peg with the USD. After the announcement on 5 Nov, expect that there will be a rush to move those HKD back out.
With allocations likely to be very low, the upside from the small amounts of stocks given to any investor will be offset by the downside of buying HKD at the top of the peg and then trying to offload the HKD at the bottom. Anyone wanting to play the risky speculative investments game may be better off with a currency play instead.
I've also applied for some, as stated elsewhere. I will look to buy in the morning of the 5th after getting my unsuccessful notification on November 4th!
Interesting why it is being listed now - maybe some problems ahead.
The pessimists guide: