Daily Archive: November 3, 2020

New Yorkers and Londoners are fleeing to the suburbs, and that’s spurring a rally in these stocks

Real-estate companies are seeing clear evidence of New Yorkers and Londoners ditching city centers for suburbs as the pandemic changes the way people live and work.

IWG Plc, which operates Regus-branded serviced offices in cities around the world, has seen a “a strong pick-up in demand” for suburban space versus major cities, especially in places reliant on commuting. While deals for its downtown New York offices have collapsed by 30% since the virus outbreak earlier this year, activity in southern Connecticut has surged more than 40%, according to a statement Tuesday.

Across the pond, U.K. housebuilder Crest Nicholson Holdings Plc’s expected slump in full-year profit may not be as bad as previously flagged, partly thanks to developments in southern England outside of London, it said in a quarterly update. A “structural change to the balance of office and home working” featured strongly in customers’ buying decisions, it said.

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Shanghai stock exchange suspends Ant Group’s A-share IPO By Reuters

© Reuters. FILE PHOTO: A logo of Ant Group is pictured at the headquarters of the company in Hangzhou, China

HONG KONG (Reuters) – The Shanghai stock exchange has suspended Ant Group’s A-share IPO on its STAR Market, which was initially set for Thursday, the Chinese exchange said on Tuesday.

Ant Group has recently reported to China’s securities regulator about the significant changes in the regulatory environment, the exchange said, and this major development might make Ant Group fall short of listing requirements on information disclosure, the Shanghai stock exchange said in a statement.

Ant was set to go public in Hong Kong and Shanghai on Thursday after raising about $37 billion, including the greenshoe option of the domestic leg, in a record public sale of shares.

The Hong Kong stock exchange declined to comment on the Shanghai stock exchange’s suspension on the Hong Kong leg of the Ant IPO.

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