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Online delivery start-up Lalamove favours Hong Kong for future IPO as listing reforms boost home city’s appeal
- ‘The capital market in Hong Kong has carried out many reforms [that make] it an ideal place for tech companies to raise funds,’ says COO Paul Loo
- The Covid-19 pandemic has boosted e-commerce and hence demand for delivery services
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Hong Kong-based Lalamove, an on-demand logistics start-up, considers its home city to be first choice in the event of a future stock market listing, according to chief operating officer Paul Loo.
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“Hong Kong will be our first choice of market to go public if Lalamove decides to have an initial public offering in future,” he said.
“There are many legal, accounting and banking professionals in Hong Kong to support technology companies to raise funds in the capital markets.
“The Hong Kong government, under the current and previous leaders, has carried out many programmes to boost the technology sector, which has helped local tech firms like Lalamove to grow quickly.”
Loo also cited the many capital market reforms in recent years that have made it easier for technology start-ups to list their shares.
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Trending in China: Delivery courier goes to work with baby girl in tow
Trending in China: Delivery courier goes to work with baby girl in tow
The Securities and Futures Commission (SFC) is poised to give the go-ahead for bourse operator Hong Kong Exchanges and Clearing Limited (HKEX) to seek public feedback on plans to allow unprofitable or pre-revenue tech companies to list, two sources told the Post on Friday.
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