Jack Ma’s new insurance technology company is hot – Apple, not so much
September 25, 2017
Jack Ma-backed insurance technology company IPO’d on the Hong Kong stock exchange, raising USD 1.5 billion and bringing firm valuation to an impressive USD 10 billion – pretty lofty for a company that has posted three consecutive years of net losses. Meanwhile, some of China’s largest cities imposed further property cooling measures to combat the overheated property market. What isn’t as hot the new iPhone – suppliers fell 6-10% on reportedly cooling demand.
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