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Chinese Bike-Sharing Startup Hello Scraps Plans for U.S. IPO

July 28, 2021
Source: yahoo.com yahoo.com
News Snapshot:
(Bloomberg) -- Chinese bike-sharing giant Hello Inc. has formally scrapped plans for a U.S. initial public offering, becoming one of the first big casualties of Beijing’s crackdown on overseas listings. The company requested a withdrawal of its registration for a U.S. share sale, saying it no longer wanted to conduct the offering at this time, according to a filing Tuesday. It didn’t provide further details. The Shanghai-based startup, which is backed by Chinese tech mogul Jack Ma’s Ant Group Co., first disclosed its IPO plans in April. Credit Suisse Group AG, Morgan Stanley and China International Capital Corp. had been...
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