Boom in China Firms Listing in the U.S. Comes to Sudden Halt

Bloomberg2021-05-25

(Bloomberg) -- At least three Chinese companies have put their plans to list in the U.S. on hold, heralding a slowdown in what’s been a record start to a year for initial public offerings by mainland ...

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Comments

Happy5204eve
2021-05-25
Happy5204eve
Nice
erichosk
2021-05-25
erichosk
This is good for Hong Kong.
Iky
2021-05-25
Iky
Yes
PanaCota
2021-05-25
PanaCota
Like me n comment
- BBBBBBBBBB:
  Oh ok
- BBBBBBBBBB:
  Yessss
asdine
2021-05-25
asdine
Oh no
- aiyohyun:
  okkk
Dedpullx
2021-05-25
Dedpullx
Comment pls ?

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In the U.S., companies can kick off their roadshows two weeks after filing publicly and most typically stick to that timetable.\n“The recent broad market selloff, combined with the correction of the IPO market since the beginning of last month when some new issuers tanked during their debuts, may make the market conditions less predictable for newcomers who are ‘physically’ ready -- meaning they have cleared all regulatory hurdles for IPO -- to get out of the door,” said Stephanie Tang, head of private equity for Greater China at law firm Hogan Lovells. “Some participants may choose to monitor the market for more stable conditions.”\nThe delays throw a wrench in a listings flood by Chinese and Hong Kong companies in the U.S. that already reached $7.1 billion year-to-date -- the fastest pace on record -- after booming in 2020. 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Insurance tech firm Waterdrop has plunged 38% from its offer price since going public earlier this month. Onion Global Ltd., a lifestyle brand platform, has fallen more than 8% below its IPO price.\nIn fact, almost 59% or specifically 20 of the 34 Chinese firms that have listed in the U.S. this year are under water, data compiled by Bloomberg show, among them the two largest IPOs -- e-cigarette maker RLX Technology Inc. and online Q&A site Zhihu Inc. Of the ones that listed in 2020, just 40% are trading below their IPO prices.\nThe recent volatility in global markets has spooked U.S. companies as well. They have also been delaying floats or facing weak debuts.\nFor some, the current challenges faced by Chinese listing hopefuls are likely to be transitory, with the hotly-anticipated IPO of ride-hailing giant Didi Chuxing Inc., which has filed confidentially for a multibillion-dollar offering, set to prove the real test of investor appetite for the China story.\nApart from Hello and the two other firms that are said to delay IPO plans after kicking off their pre-marketing process, Chinese road freight transport platform ForU Worldwide Inc., which filed for a U.S. offering on May 13, and online education company Zhangmen Education Inc., which filed on May 19, are waiting in the wings though they have yet to pass the two-week hallmark.\n“There is a natural strong growth in China which international investors will still want to invest in over the longer term,” said Gary Dugan, chief executive officer at the Global CIO Office in Singapore.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":138101872,"gmtCreate":1621914786296,"gmtModify":1704364364098,"author":{"id":"3584417385951245","authorId":"3584417385951245","name":"Happy5204eve","avatar":"https://static.tigerbbs.com/c7ef5c1c179fc50a5df3390f8f3fb636","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3584417385951245","idStr":"3584417385951245"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/138101872","repostId":1134789308,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":138345374,"gmtCreate":1621913336898,"gmtModify":1704364343669,"author":{"id":"3575433293784452","authorId":"3575433293784452","name":"erichosk","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3575433293784452","idStr":"3575433293784452"},"htmlText":"This 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no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/138328891","repostId":1134789308,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4439880,"gmtCreate":1621911695873,"gmtModify":1680790799290,"authorId":3582936698066263,"author":{"id":3582936698066263,"idStr":"3582936698066263","authorId":3582936698066263,"name":"aiyohyun","avatar":"https://static.tigerbbs.com/5efe05924fc38dd8db647c314e32c5b2","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":138328891,"type":1,"supId":0,"prevId":0,"content":"<u>okkk</u>","text":"<u>okkk</u>","html":"<u>okkk</u>"}],"langContent":"EN"},{"id":138328016,"gmtCreate":1621911561735,"gmtModify":1704364310414,"author":{"id":"3582314801492591","authorId":"3582314801492591","name":"Dedpullx","avatar":"https://static.tigerbbs.com/0c7583d3a74df175dfd77e7d745d6c81","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3582314801492591","idStr":"3582314801492591"},"htmlText":"Comment 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