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Frenzy of Chinese IPO listings in US continues, despite political sparring
- Friday | 25th June, 2021
HONG KONG (Reuters) – Ride-hailing giant Didi Chuxing’s planned $4 billion New York debut will supercharge Chinese listings in the United States on the back of an all-time high in the first half the year, despite political sparring between the two countries. The rush of listings happened despite continued political tension between the two countries under President Joe Biden, and the looming threat of US kicking out Chinese companies if they fail to meet auditing standards. The 29 listings so far in 2021 compares with just 13 at the same time last year, according to the data. The biggest Chinese listing in the United States so far this year was Full Truck Alliance, sometimes referred to as “Uber for trucks”, which raised $1.6 billion earlier this week. The share sale, which will price on Tuesday, will also be one of the biggest by any Chinese company in the United States since Alibaba raised $25 billion in 2014.
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