Chinese IPOs return to New York with a whimper

LianBio

02/11/2021 03:44

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Robyn Mak
    HONG KONG, Nov 2 (Reuters Breakingviews) - LianBio, the
first Chinese company to float in the city since Didi’s
catastrophic listing, fell 14% on its debut. It touts a Cayman
Islands domicile and U.S. backers but most of its business is in
the People's Republic. Investors who once loved such hybrids
distrust them now.
    Full view will be published shortly.
    Follow @mak_robyn https://twitter.com/mak_robyn on Twitter 
    
    CONTEXT NEWS
    - Shares of biotechnology company LianBio closed at $13.70,
down 14.4% from their initial public offering price on Oct. 2 in
New York. The company raised $325 million.
    - The company, which is incorporated in the Cayman Islands
and has headquarters and operations in both the United States
and China, is the first Chinese company to go public in the
United States since ride-hailing company Didi Global's $4.4
billion offering in June, according to Dealogic. 



 (Editing by Una Galani and Katrina Hamlin)
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