The political sparring between Washington and Beijing hasn't dampened the interest of Chinese companies wanting to list shares in the U.S.
Chinese initial public offerings in the U.S. accounted for about a fifth of U.S. IPO proceeds in the last three months, their best quarter by proceeds in three years, according to Renaissance Capital. The firms, mostly lesser-known, smaller Chinese companies, are often drawn to the prestige associated with the New York stock exchanges.
"As a U.S.-listed company it'll be easier to attract top talent from Chinese internet companies," Yipeng Li, chief financial officer of Sunlands Online Education, told CNBC on the day of its IPO, March 23.
Chinese companies raise even more capital in the US
Eight Chinese companies raised $3.3 billion in the first quarter, the most in three years, thanks primarily to a $2.3 billion raise by video streaming company iQIYI, Renaissance said.
President Donald Trump has targeted China with plans for tariffs and increased scrutiny of Chinese deals in the U.S. The value of completed Chinese foreign direct investment transactions in the U.S. dropped by over a third from 2016, and the worth of newly announced deals dropped by more than 90 percent, according to Rhodium Group.
Reference: CNBC
Thai
Eng