Chinese companies have again started conducting IPOs on US stock exchanges
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Chinese companies unexpectedly started holding IPOs in the US again, writes Bloomberg.
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China returned to US stock exchanges
During its IPO this week, Hesai Group — a manufacturer of sensors for measuring distances (lidars) used, in particular, by devices for autonomous driving — intends to raise up to $171 million. Up to 9 million ADRs will be placed at a price of $17 to $19 a piece , reports Reuters.
On Monday, February 6, the tax and financial consulting service Lichen China debuted in the United States. The volume of placement is 4 million ordinary shares at a price of $4 per piece.
At the same time, according to Refinitiv data, in 2022 Chinese companies attracted about $230 million during IPOs in the United States. For comparison, $12.85 billion was collected in 2021.
Read more: China will ban IPOs in the US for companies that work with personal data A downturn in the market
Last year, there was a significant decline in the IPO market in the US as a whole.
Disputes between the United States and the People’s Republic of China about audits also contributed to the decrease in interest from Chinese companies – the Chinese authorities refused to disclose some data due to security concerns.
Due to the fact that the parties could not come to an agreement on this issue for a long time, several hundred companies were threatened with delisting from American stock exchanges.
Against this background, in August, five of the largest Chinese state-owned companies announced their voluntary withdrawal from the New York Stock Exchange.
Author: 
News feed editor Anna Nedogybchenko. She writes on the following topics: Finance, banks, economy, investments
- IPO
- Shares (securities)
- Stock market
Source: Ministry of Finance
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