China’s stepped-up scrutiny of overseas listings by its companies and a clampdown on ride-hailing giant Didi Global Inc (DIDI.N) soon after its debut in New York have darkened the outlook for listings in the United States, bankers and investors said.
On Tuesday Beijing said it would strengthen supervision of all Chinese firms listed offshore and tighten rules for cross-border data flows, a sweeping regulatory shift that is also set to weigh on the long-term valuations of the IPO-bound companies, they said.
Bankers and investors expect the pace of activity to slow in the near-term as investors grapple with Beijing’s decision to tighten supervision of firms listed offshore, coming just days after regulators stunned investors by launching a cybersecurity investigation into Didi.
Read more/Source: Reuters
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