A bike-sharing platform, a podcaster and a cloud computing firm are among popular Chinese corporates holding off plans for a U.S. 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 U.S., companies can kick off their roadshows two weeks after filing publicly and most typically stick to that timetable.
“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 privat
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 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 U.S. 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 U.S., companies can kick off their roadshows two weeks after filing publicly and most typically stick to that timetable.
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HONG KONG (Reuters) - Chinese social media platform Weibo Corp has appointed Goldman Sachs, Credit Suisse and CLSA to work on its planned Hong Kong secondary listing in the final half of 2021, two sources with direct knowledge of the matter said.
FILE PHOTO: Signage for Weibo Corporation is seen at the NASDAQ MarketSite in Times Square on day one of its initial public offering (IPO) on The NASDAQ Stock Market in New York April 17, 2014. REUTERS/Andrew Kelly/File Photo
The listing by China’s largest microblogging platform could raise up to $700 million, one of those people said, as the company joined a wave of Hong Kong share sales by U.S.-listed Chinese companies.
By Julie Zhu and Scott Murdoch HONG KONG (Reuters) - Chinese social media platform Weibo Corp has appointed Goldman Sachs, Credit Suisse and CLSA to w.