-- Star Sports Medicine's (HKG:1609) shares opened 192.4% above their initial public offering price in a stellar Hong Kong debut Tuesday morning.
The China-based medical device company opened at HK$288 per share, well above the offer price of HK$98.50.
Overseas-Chinese Banking Corp. or OCBC (SGX:O39) agreed to acquire the retail and wealth management business of HSBC's (HKG:0005) Indonesian arm, according to a press release on Monday.The deal involves the transfer of HSBC's International Wealth and Premier Banking (IWPB) portfolio to OCBC's local subsidiary, PT Bank OCBC NISP Tbk.OCBC will take on approximately 336,000 customers. The acquisition also adds SG$6.6 billion in assets under management (AUM), expected to grow OCBC Indonesia's total AUM by 25%Credit card balances are projected to surge by more than 150%, and roughly 1,300 HSBC Indonesia employees will join the OCBC team.OCBC will pay a premium of up to SG$480 million above the net asset value of the IWPB portfolio.
Sang Hing Holdings (International) (HKG:1472) said it placed orders for additional machinery with Epiroc Hong Kong and South Wing Machinery, according to a Hong Kong bourse filing Monday.The civil engineering services firm's shares gained 1% in morning trade Tuesday.The firm will acquire a surface drill rig from Epiroc for HK$2.2 million and two hydraulic excavators from South Wing Machinery for HK$7.1 million.The machinery will be used for the company's projects.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Grab posted strong Q1 2026 results with revenue of $955M (+24% Y/Y) and net profit of $120M vs. $10M in the prior year, marking the second consecutive quarter of GAAP profitability. Adjusted EBITDA surged 46% Y/Y to $154M, with margin expanding 250 bps to 16.2%, demonstrating operating leverage in all segments including Mobility GMV growth of 23% and Deliveries GMV expansion of 25%. Key strategic milestones include securing Singapore's inaugural cross-border ride-hail license for the Singapore-Johor corridor and announcing its first international expansion through the acquisition of Taiwan's foodpanda. Executing $500M in share repurchases reflects management's confidence. Management maintained full-year 2026 revenue guidance of $4.04B-$4.10B and $700M-$720M in Adjusted EBITDA, which in our view, indicates confidence in sustained momentum. Financial Services revenue grew 43% to $107M with loan portfolio more than doubling to $1.4B, while strong advertising monetization led Deliveries profitability improvements.