China officially inaugurated its highly anticipated science and technology innovation board at the Shanghai Stock Exchange (SSE) on June 13, a milestone in the country’s capital market development.
Trade tension between the U.S. and China exacerbates as Steve Bannon, former White House chief strategist, says driving out Huawei is more important than the trade deal.
On April 23, Luckin Coffee, the Chinese Starbucks challenger, filed for official IPO to the U.S. Security Exchange Commission, with the ticker symbol ‘LK’.
On Apr. 3, Ruhnn, an Alibaba-backed Chinese influencer startup went listed on NASDAQ, with a ticker symbol of “RUHN” and issuing price of $12.5. The total financing is expected to reach $1,250 million.
On Nov. 5 2018, Chinese president Xi Jinping delivered a speech at the opening ceremony of the first China International Import Expo in Shanghai. He proclaimed that the Shanghai Stock Exchange is ready to launch the “Science and Technology Innovation Board” with a registration-based system for listed companies.
Viomi, a smart home appliances company in the Xiaomi ecosystem, started trading on the Nasdaq Stock Market on Sept. 25 under the ticker symbol VIOT.
Uxin Limited, China’s used auto e-commerce platform became publicly listed under the symbol “UXIN” on the Nasdaq Stock Market on June 27 at $9 per share. The underwriters are Morgan Stanley, Goldman Sachs, J.P. Morgan, China International Capital Corporation and China Renaissance Group.
“I just saw the headlines saying that iQIYI has fought through bitter years, and I want to tell our friends at the press that it wasn’t bitter for us,” said a host from iQIYI Innovation Building in Beijing on March 29.
On March 14, video website iQIYI, which previously announced its U.S.-based listing, set terms for its listing on Nasdaq by the end of March with the ticker symbol “IQ”.
Bloomberg reported that Huami, Xiaomi’s subsidiary, has started its roadshow for an initial public offering in the US. Huami plans to be listed on the Nasdaq global market on February 8.