The start of 2021 had been a record period for initial public offerings (IPOs) by mainland and Hong Kong firms but, with at least three Chinese companies putting plans to list in the US on hold, this may be coming to an end, reported Bloomberg.
After recent market declines, lackluster debuts by peers (such as Waterdrop Inc.) and souring investor sentiment toward fast-growth companies, several major Chinese corporates, from a range of industries, are holding off plans to float in the US.
Despite the fact that Hello Inc., Ximalaya Inc. and Qiniu Ltd. had already publicly filed with the Securities and Exchange Commission two weeks ago, they are postponing plans to take orders from investors. This deviates from the usual two-week timeline for most listing companies to start their roadshows.