Chinese internet companies fall from grace in US market
China internet gaming company Phoenix New Media raised $140.4m in the US equity market this week, but only after being forced to close its IPO below the price range. It was the first to suffer from a backlash against Chinese internet companies in the US, after the weak performances of some recent deals in the secondary market.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts