Regulators see the ride-hailing giant’s decision to go public despite pushback from the Cyberspace Administration of China as a challenge to Beijing’s authority.
The online brokerage that found itself at the centre of the meme stock frenzy will go public next week,and is targeting a valuation of $US35 billion..
Just months after bankers celebrated a record haul from taking Chinese companies public in New York and Hong Kong,they’ve had a rude awakening.
The Chinese ride-hailing platform gave no shortage of warnings before its IPO that regulators in Beijing were hovering. But they barely hinted at the sudden clampdown that has cut short its coming-out party.
It was the biggest initial public offering since 2018,but PEXA made a lacklustre debut on the ASX with the high listing price blamed as much as an operational glitch on the eve of its float.
Kazuma Ieiri was bullied at school,too poor to go to university and spent years in his bedroom as a recluse. More than 20 years later,he’s making his fortune in the tech startup scene.
The biggest float in years on the ASX has kicked off with the release of online property conveyancer PEXA’s prospectus.
Property settlements platform PEXA is set to become the largest float in almost three years after its majority shareholder Link Administration opted to maximise the company’s potential value.
Backed by the likes of Oprah Winfrey and Jay-Z,the Swedish oatmilk maker soared on its debut.
Zhang Yiming will cede the reins of TikTok’s owner ByteDance to an old college roommate and lieutenant,stepping back from running the world’s most valuable startup ahead of its highly anticipated sharemarket debut.
Private equity has a place at the table,and so do celebrities like Oprah and Jay-Z. Wall Street is eagerly awaiting the market debut of milk substitute producer Oatly.