In the wake of a recent heavy crackdown on tech listings in the American IPO market, LaLaMove is said to be weighing a cancellation of its potential US$1B US IPO.
 |
| Lalamove US IPO threatened -- Image courtesy Lalamove |
#LALAMOVE SAID TO WEIGH MOVING $1B #IPO FROM #US TO #HongKong
— 3Sigma Markets (@3Sigmamarkets) July 13, 2021
LaLaMove filed confidentially to list in June of this year. Recently, other China tech heavy hitters also IPO'd but found a government crackdown waiting in the wings. Didi, the Uber competitor in China, launched an IPO last week but was taken to task for infringing on recent changes to China's privacy laws. It has been rumored that Didi officials, feeling pressure from foreign investors to list an IPO, disobeyed restrictions and qualifications imposed on Didi by China regulators.
Didi's app was removed from China's app stores.
Other companies like Tencent are being reviewed over concerns that certain lines of business have a monopoly in certain areas. Alibaba founder Jack Ma's Ant Financial also recently had their IPO yanked from the market by regulators after concerns were aired that it's credit services and other financial tools had a monopoly in certain areas of consumer finance.
No comments:
Post a Comment