Companies such as Beijing Smart Walnut Education Technology, Shenzhen Cloudsky Technologies, Zaihui, and Zhonghe Group are contemplating potential US IPOs.
Beijing-based Smart Walnut Education Technology, which offers services aimed at teaching children coding skills, is among multiple Chinese companies contemplating
initial public offerings
(IPOs) in the
United States
, even with market volatility and
tension between Washington and Beijing
as stated by individuals acquainted with the situation.
Known as Walnut Coding, the company might aim to raise approximately $100 million through a United States initial public offering, according to the sources who spoke on condition of anonymity due to the confidential nature of the discussions.
Other firms exploring listings include computing infrastructure provider Shenzhen Cloudsky Technologies and software service platforms Zaihui and Zhonghe Group, the people said. Those three companies may seek to raise similar amounts, they added.
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No definitive choices regarding the share sales have been reached yet, and the companies might choose not to go ahead with them, according to these individuals.
A representative for Walnut Coding, whose backers include private equity firms KKR & Co and Hillhouse Investment, declined to comment. Zaihui, Zhonghe and Cloudsky did not respond to requests seeking comment.
fewer Chinese firms have chosen to list their shares on US stock exchanges since then.
Didi Global
‘s
ill-fated share sale
On the New York Stock Exchange in 2021, this incident led to regulatory action.
clampdown on the nation’s online sector
and an
ordered to delist by the ride-hailing company
.
High liquidity in the U.S. market attracts Chinese firms, whereas investment banks can charge greater fees for equity offerings compared to other locations like Hong Kong.
Tea chain
Chagee Holdings secured US$411 million in funding.
This month, following its US initial public offering (IPO) priced at the upper limit of the projected range despite trade-war related market turbulence, its stock price surged by 16 percent upon listing.
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