![]() ![]() A few months after bankers held a record for making Chinese companies public in New York and Hong Kong, they have had a rude awakening. Bids are being filed and investors are suffering huge losses.Īfter a fortnight in which China repressed its Uber-like Didi Global Inc., just days after a commercial debut in the United States, a global chill was resolved, quickly followed by the State Council which announced a more detailed examination of all offshore quotes. A cybersecurity review for companies with data on more than a million users was proposed on Saturday before looking for listings in foreign countries. The warning signs had been blinking for some time. As insurers hit a record $ 1.5 billion in fees last year to help Chinese companies with initial overseas bidding, relations between China and the United States shrank. In December, Donald Trump signed a bill that could remove Chinese companies that do not comply with audit inspection rules. LinkDoc's decision to suspend its US211 million (S285.5 million) IPO, is likely to be followed by others, analysts said, although they noted that US listings were not barred per se. Simultaneously, President Xi Jinping stepped up oversight of large technology companies, in part to secure the treasury of data they control. ![]() The moves jeopardize the frantic negotiation that took place during the pandemic and the lucrative offshore listing business that earned about $ 6.4 billion in commissions since 2014, when Alibaba Group Holding Ltd. ![]() they topped the league tables during that stretch, when nearly 40 percent of the commissions came from U.S. bids.īankers now say they expect most Chinese IPOs destined for U.S. The move against Didi from Chinese regulators came just two days. stock exchanges to be suspended or diverted elsewhere, entering the projected revenue for the year given the significantly lower rates in Hong Kong. IPO as the fallout from Chinas crackdown on data-rich companies listing overseas continues. The quotation requirements in the financial center and in mainland China are also stricter, which means that there are no certain offers. The new document shows that the ride-hailing firm expects to issue 288 million shares, and plans to raise a total of about 4 billion, with a maximum of about 4.6 billion. Didi updated its prospectus on June 25th, Beijing time. “There are some uncertainties that can take a month or two to follow,” said David Chin, head of investment banking in Asia Pacific at UBS Group AG, about China’s changing rules in a briefing. Chinese Ride-Hailing Giant Didi Updates Prospectus to Reveal 4 Billion Dollar Financing Plan. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |