China-to-U.S. IPOs punished as Beijing broadens crackdown

17 Education and Technology

23/07/2021 15:21

** Shares of Chinese companies which recently debuted in
U.S. dive as regulatory scrutiny intensifies
    ** Zhangmen Education  ZME.N , which IPOd in early June, 
plunges >30% following report China considering making private
education businesses non-profit; platforms would be barred from
raising capital or going public  urn:newsml:reuters.com:*:nL1N2OZ0KW
    ** Online grocery apps Dingdong  DDL.N  and Missfresh  MF.O 
down ~6% and ~10%, respectively, on Fri; "insuretech" Waterdrop
 WDH.N  off ~5%
    ** Truck-hailing firm Full Truck Alliance  YMM.N  skids 15%,
while online recruiter Kanzhun Ltd  BZ.O  down 7%
    ** Didi Global  DIDI.N , whose app takedown by Chinese govt
sparked selloff earlier this month, sinks >16% as Beijing mulls
serious penalties for the ride-hailing giant  urn:newsml:reuters.com:*:nL1N2OZ0KR
           
   Snapshot of performance since IPO:  
    
 
 
       

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))