BREAKING NEWS Finally Feeling Like Fall Full Story

The wave of massive Chinese tech IPOs has begun

Investors are preparing for a blockbuster year of Chinese tech IPOs.Smartphone maker Xiaomi filed this week to...

Posted: May 4, 2018 2:31 PM
Updated: May 4, 2018 2:31 PM

Investors are preparing for a blockbuster year of Chinese tech IPOs.

Smartphone maker Xiaomi filed this week to go public in Hong Kong in what's expected to be the world's biggest IPO since 2014. It is one of several major Chinese tech companies that could make their stock exchange debuts this year.

They include China's biggest ride-hailing company, Didi Chuxing; the country's top mobile payments firm, Ant Financial; and China's most popular music streaming business, owned by Tencent.

The companies have built up their businesses to "a size that is interesting for institutional investors," said Hans Tung, managing partner with venture capital firm GGV Capital, which is an investor in Didi and Xiaomi.

Related: Xiaomi files for huge Hong Kong IPO

They could face a volatile market: 2018 has been a rocky year for many tech stocks including China's biggest, Tencent and Alibaba.

But there's still a lot of excitement surrounding potential giant IPOs from some of China's biggest startups.

"It's the internet companies driving growth in China," Tung said.

He points to the huge market value of Tencent and Alibaba, which now eclipse the country's former stock market giants in banking and energy. Tung said that would have been unimaginable five or ten years ago.

Here are some of the top firms expected to follow Xiaomi in filing to go public.

Didi Chuxing

Didi is best known for driving Uber out of China in 2016 after a vicious, multibillion-dollar battle.

Since then, investors have pumped billions more into the company. Its latest funding round in December valued it at $56 billion.

The company is expanding internationally, buying an Uber rival in Brazil in January and launching its own service in Mexico in April.

Related: Related Uber faces a new threat in Mexico

Didi is reportedly considering an IPO by the end of this year, potentially putting it ahead of Uber, which plans to go public in 2019.

Didi declined to comment on the matter.

Ant Financial

Ant Financial could be the second company worth tens of billions of dollars that Chinese tech tycoon Jack Ma takes public.

The affiliate of Ma's Alibaba is best known for its mobile payments service, Alipay, which is used by hundreds of millions of people in China. It too is expanding overseas.

In China, Ant is also offering an experimental credit-scoring system built from its troves of user data, and a product that lets users invest small amounts of money left in their Alipay accounts in a massive money market fund.

Analysts expect Ant to follow Alibaba and list in New York. Last month, the company was reportedly preparing to raise money in a funding round that would value it at $150 billion ahead of a potential IPO.

An Ant spokesman said the company doesn't have a timetable or a plan for an IPO.

Related: Chinese online payments giant could be worth $150 billion

Meituan-Dianping

Meituan-Dianping likes to call itself the "Amazon of services."

The company started out as an app where people could get coupons or discounts for restaurants, similar to Groupon.

It now offers a huge range of services. Users can hail rides, get food delivery, make lunch reservations and even buy plane tickets -- all through a single mobile app. The company just expanded into dockless bike-sharing, buying Chinese startup Mobike early last month.

Meituan-Dianping's latest funding round valued the company at roughly $30 billion, putting it in the same league as Airbnb.

The Chinese startup is reported to be planning an IPO later this year. A spokeswoman for the company declined to comment.

Related: China's answer to Groupon and Yelp is now worth $30B

Tencent Music

Ten years ago, the idea of Chinese users paying for music was almost laughable.

But the rise of smartphones, the quality of streaming apps and the freemium model -- where users listen to advertisements rather than paying -- convinced millions of people to sign up.

Tencent Music dominates music streaming in China through its QQ Music, KuGou and Kuwo platforms. Together, the services have around 600 million users, although only about 15 million of them are paying subscribers.

Related: China's big streaming shift: Paying instead of pirating

It reportedly plans to follow Spotify, which listed in New York last month, in going public this year. The two companies have a strategic partnership and bought minority stakes in each other last year.

At that time, Tencent Music was valued at around -10 billion ($12 billion). But it may seek a valuation more than double that in its IPO, according to reports.

Tencent did not respond to requests for comment on the matter.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 497790

Reported Deaths: 9917
CountyCasesDeaths
Harrison34102530
DeSoto31839398
Hinds31837622
Jackson24314377
Rankin21881388
Lee15427234
Madison14525279
Jones13772241
Forrest13412250
Lauderdale11937314
Lowndes10934185
Lamar10470135
Pearl River9431237
Lafayette8454138
Hancock7697126
Washington7365156
Oktibbeha7111129
Monroe6727174
Warren6642176
Pontotoc6609101
Neshoba6606205
Panola6460131
Marshall6386132
Bolivar6266145
Union596094
Pike5784152
Alcorn5633101
Lincoln5417134
George491879
Scott470998
Tippah465381
Prentiss464181
Leflore4627143
Itawamba4596104
Adams4570119
Tate4546109
Copiah445191
Simpson4421116
Wayne438572
Yazoo438586
Covington427394
Marion4216107
Sunflower4215104
Coahoma4115104
Leake407787
Newton380879
Grenada3692108
Stone358464
Tishomingo356391
Attala330289
Jasper328265
Winston313191
Clay306375
Chickasaw296767
Clarke290694
Calhoun277945
Holmes266987
Smith262550
Yalobusha232647
Tallahatchie225251
Walthall217763
Greene215548
Lawrence211140
Perry204755
Amite203954
Webster201645
Noxubee185340
Montgomery179056
Jefferson Davis170642
Carroll167438
Tunica158639
Benton147438
Kemper141241
Choctaw133026
Claiborne131237
Humphreys129038
Franklin119128
Quitman106227
Wilkinson104539
Jefferson94234
Sharkey64020
Issaquena1937
Unassigned00

Alabama Coronavirus Cases

Cases: 813481

Reported Deaths: 15179
CountyCasesDeaths
Jefferson1139971910
Mobile722271323
Madison51970686
Shelby37279341
Baldwin37069540
Tuscaloosa34934599
Montgomery33953725
Lee23142240
Calhoun22142470
Morgan20639372
Etowah19758496
Marshall18245300
Houston17302405
St. Clair15912337
Cullman15306290
Limestone15202198
Elmore15075284
Lauderdale14143294
Talladega13715272
DeKalb12569259
Walker11085366
Blount10094174
Autauga9893146
Jackson9789180
Coffee9182189
Dale8859181
Colbert8789200
Tallapoosa7044195
Escambia6732127
Covington6682179
Chilton6587160
Russell625958
Franklin5930105
Chambers5559142
Marion4955126
Dallas4882199
Clarke472782
Pike4719105
Geneva4564126
Winston4473101
Lawrence4264117
Bibb421686
Barbour355475
Marengo334089
Monroe330262
Randolph327063
Butler324794
Pickens313882
Henry310965
Hale309187
Cherokee299957
Fayette290679
Washington250951
Cleburne246958
Crenshaw243575
Clay240367
Macon230562
Lamar215846
Conecuh185652
Coosa178538
Lowndes173761
Wilcox167438
Bullock151744
Perry138040
Sumter131038
Greene125544
Choctaw86927
Out of AL00
Unassigned00
Tupelo
Clear
70° wxIcon
Hi: 71° Lo: 44°
Feels Like: 70°
Columbus
Clear
71° wxIcon
Hi: 70° Lo: 46°
Feels Like: 71°
Oxford
Clear
68° wxIcon
Hi: 69° Lo: 41°
Feels Like: 68°
Starkville
Clear
68° wxIcon
Hi: 70° Lo: 45°
Feels Like: 68°
A cold front passing through our area overnight will bring into our area some of the coolest temperatures of the season so far. We will see most of the highs this weekend only in the upper 60s to lower 70s. While overnight lows will drop off down into the 40s Saturday night.
WTVA Radar
WTVA Temperatures
WTVA Severe Weather