Banks are reportedly scrambling to move IPOs of Chinese companies from New York to Hong Kong after regulators cracked down on overseas listings
- Regulators' harsh response to
Didi's IPOhas forced the 20 or so Chinese companies that had plans to go public in New Yorkto re-evaluate, according to a Financial Times report.
- 34 Chinese firms raised $12.4 billion in New York capital
marketsin the first half of this year, according to Dealogic data.
- Data-oriented companies have been most eager to plan for
Hong Konglistings, in large part because the mainland government's crackdown has centered around data privacy.
Investment banks are scrambling to divert Chinese IPOs away from the US market and into Hong Kong as the government's crackdown on foreign listings spreads, according to a Financial Times report.Regulators' harsh response to China's last major foreign IPO, that of Didi Chuxing, has forced the 20 or so Chinese companies that had plans to go public in New York to re-evaluate.
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The move toward Hong Kong is an abrupt shift for corporate China. 34 Chinese firms raised $12.4 billion in New York capital markets in the first half of this year, according to Dealogic data previously reported by the FT.In the wake of Didi's NYSE debut, China's
Data-oriented companies have been most eager to plan for Hong Kong listings, in large part because the mainland government's crackdown has centered around data privacy. Moving to Hong Kong could abate some of that scrutiny, two bankers told the FT.
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