IPOs - Asias

Chinese property platform KE Holdings to list shares in Hong Kong

HONG KONG, May 5 (Reuters) - Chinese property platform KE Holdings Inc said on Thursday it would list its shares in Hong Kong without raising capital, as a growing number of U.S.-listed Chinese firms carry out so-called “homecoming” listings.

The New York-listed company, which operates online property platform Beike matching buyers and sellers of real estate, will start trading its stock on the Hong Kong exchange on May 11, it said in regulatory filings.

The increased number of return-home deals has been triggered by American regulators’ heightened scrutiny and stricter audit requirements for U.S.-listed Chinese companies amid political tensions between the countries.

Unlike a typical initial public offering (IPO) or secondary listing, KE Holdings will raise no capital and issue no new shares in what is termed a listing by introduction.

Chinese electric vehicle maker Nio Inc in March listed by introduction in Hong Kong.

KE Holdings did not describe the reasons for pursuing the Hong Kong listing. It comes after it was added on April 22 by U.S authorities to a list of companies that could be delisted from American exchanges if they did not allow U.S auditors to access their accounts.

KE Holdings then said it was exploring possible solutions to protect the interest of its stakeholders and would continue to comply with laws in the United States and China.

The U.S. list was expanded on Wednesday to include 80 more companies including Chinese online retail giant Inc that could be delisted if they fail to comply with American auditing standards for three years in a row.

Reuters reported in September that KE Holdings was considering a Hong Kong share sale. The company said at the time it had no imminent plans for a Hong Kong listing.

Goldman Sachs and China International Capital Corp are sponsoring the KE Holdings listing, filings showed on Thursday. (Reporting by Scott Murdoch in Hong Kong; Editing by Jamie Freed)