Hong Kong based Investment banking company AMTD International’s dollar perpetual bond crashed 40% to 65.55 from 108.5 this. The reason for the dramatic fall in the bond’s price is unknown.
Bloomberg reported yesterday that HK firms started flagging China risks in their US filings with AMTD Digital, a subsidiary of AMTD Group updating their initial May and July IPO filings in August highlighting the risk. AMTD Digital’s preliminary prospectus filed with the US SEC reads, “The PRC government has significant authority to regulate or intervene in the China operations of an offshore holding company at any time. A substantial extension of the PRC government’s oversight over our business operations or overseas listings may hinder our ability to offer or continue to offer the ADSs, result in a material adverse change to our business operations, and damage our reputation, which could cause the ADSs to significantly decline in value or become worthless.”
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