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SHANGHAI/HONG KONG (Reuters) - A growing number of Chinese tech start-ups are cancelling plans to list on Nasdaq-style markets at home with some eyeing Hong Kong share sales instead, as regulators tighten scrutiny of IPO applicants after the halting of Ant Group’s $37 billion float.
FILE PHOTO: A sign for STAR Market, China s new Nasdaq-style tech board, is seen after the listing ceremony of the first batch of companies at Shanghai Stock Exchange (SSE) in Shanghai, China July 22, 2019. REUTERS/Stringer
Over 100 companies have voluntarily withdrawn applications to list on Shanghai’s STAR Market and Shenzhen’s ChiNext since Ant’s termination of its initial public offering (IPO) in November, according to Reuters review of exchange filings.
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Chinese tech start-ups pull IPO plans as Beijing tightens scrutiny
Investors rest on a chair in front of screens showing stock market movements at a securities company in Beijing on Aug 26, 2019. (Photo: AFP/Wang Zhao)
12 Apr 2021 09:22AM (Updated:
12 Apr 2021 09:30AM) Share this content
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HONG KONG: A growing number of Chinese tech start-ups are cancelling plans to list on Nasdaq-style markets at home with some eyeing Hong Kong share sales instead, as regulators tighten scrutiny of IPO applicants after the halting of Ant Group s US$37 billion float.
Analysis: Chinese tech start-ups pull IPO plans as Beijing tightens scrutiny reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.