China U.S. Stock Sales Surge To Record Despite Delisting Threat (FT)

Funds raised by Chinese groups on US equity markets surged 440 per cent in the opening months of 2021, as the allure of sky-high Wall Street valuations outweighed the threat of forced delistings. Chinese companies have raised a record $11bn this year on the New York Stock Exchange and Nasdaq via initial public offerings, follow-on share sales and issuance of convertible bonds, according to data from Dealogic. Big listings included a $1.4bn IPO by e-cigarette maker RLX Technology and a $947m offering from software company Tuya, along with those by 20 other Chinese groups.

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