Boom in Chinese Firms Listing in the US Comes to a Sudden Halt

Sun Online Desk

25th May, 2021 08:25:59 PM printer

Boom in Chinese Firms Listing in the US Comes to a Sudden Halt

 At least three Chinese companies have put their plans to list in the US on hold, heralding a slowdown in what’s been a record start to a year for initial public offerings by mainland and Hong Kong firms.

A bike-sharing platform, a podcaster and a cloud computing firm are among popular Chinese corporates holding off plans for a US float, put off by recent market declines, souring investor sentiment toward fast-growth companies and lackluster debuts by peers like Waterdrop Inc.

Hello Inc., Ximalaya Inc. and Qiniu Ltd. are postponing plans to take orders from investors, even though the three had filed paperwork with the Securities and Exchange Commission well over two weeks ago. In the US, companies can kick off their roadshows two weeks after filing publicly and most typically stick to that timetable.

 

Source: Bloomberg

 


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