More Details🧐 Since Chinese ride-hailing app Didi’s IPO in late June, authorities have increased their scrutiny of Chinese companies, leading to Didi’s announcement to delist from the New York Stock Exchange. TikTok-rival Kuaishou’s stock more than doubled its IPO price during its February debut, but the stock has since fallen 77%.
Why is this Important🤔 248 Chinese companies listed on U.S. exchanges as of May 2021 held a combined market cap of $2.1 trillion. That value has fallen to approximately $1.5 trillion. The average return for Chinese-based 2021 U.S. IPOs is -42%, according to a senior strategist at IPO research firm Renaissance Capital.
