The US Investment Bank abandon some Chinese companies to go to Hong Kongs IPO tr

U.S. media reports that international investors' confidence in China's first public offering (IPO) transactions has seriously deteriorated, prompting investment banks to withdraw from potential listing transactions, and even small IPOs are difficult to sell.

The Wall Street Journal reported on Thursday (June 15) that according to documents submitted to the Hong Kong Stock Exchange, Goldman Sachs Group has abandoned several Hong Kong IPOs this year, including a skin drug company and a family.IPO transaction of pharmaceutical products online platform.Bank of America has given up the IPO of Grevat, a manufacturer of solar panel inverter.

It is reported that the investment bank rarely gives up after receiving the IPO commission.The above -mentioned approach of investment banks reflects that the market conditions are very difficult for Chinese companies that want to list on overseas stock exchanges.According to the official data as of May 31, nearly 90 companies' listing applications on the main board of the Hong Kong Stock Exchange are being processed.However, the decline in stock prices, the intensified situation of political tensions in the United States and China, and the weakness of China's economic recovery have made many global investors discouraged.

Since the beginning of this year, the total fund raising of Hong Kong's new shares and the second listing activities is only 2.05 billion US dollars (the same, about S $ 2.75 billion), a decrease of 12%from the same period of the previous year, and the IPO of Hong Kong in the past few years.The scale is far from.Data supplier Dealogic data shows that the average scale of related transactions during the year was about 80 million US dollars.

Jennison Associates's emerging market fund manager Albert Guo (Albert Kwok) said: "Don't mention the IPO, the company can go to Hong Kong IPO, but I think they cannot get a valuation close to the ideal level.. "

According to the Wall Street Journal, even small IPOs even have obvious selling points in the near future are not good.After starting the IPO of Hong Kong IPOs, the superstar legend of the production of a weight loss coffee announced last week that the company originally hoped to raise $ 101.8 million through this IPO.The co -founder of the superstar legend is the mother of Taiwan pop singer Jay Chou. He has a reality show starring Jay Chou and other activities and content centered on Jay Chou.

Goldman Sachs chose to withdraw from the China Academy of Pharmaceutical Services Pharmacist Co., Ltd., as well as the IPO of Shanghai Klei Group, which focuses on the field of skin disease treatment.

According to people familiar with the matter, Goldman Sachs headquartered in New York, USA believes that the current market demand is too weak, and the listing of these companies will not be too good.In April, Goldman Sachs also withdrawn from the overall coordinator of the IPO of Beijing Fourth Paradigm Intelligent Technology Co., Ltd.. The artificial intelligence company was included in the blacklist by the US Department of Commerce in March.

The above -mentioned persons said that Goldman Sachs suggested that pharmacists and Kelei Group listed again when the market conditions improved, but the two companies finally chose to continue to promote the listing plan.Ke Di set the issue price of the Hong Kong IPO last week, raising a total of $ 59.4 million.This IPO pricing is close to the low end of the guidance price interval.Pharmacists supported by US investment company Tiger Global Management helped to start the offering on Thursday.

Grevat, a solar product company headquartered in Shenzhen, delayed the listing plan last year and is currently planning to restart the IPO.The Bank of America Merrill Lyl was once the coordinator of Gurvat IPO, but no longer participated in the current transaction.

Many transaction partners now think that this year's IPO market prospects are dim, and at the beginning of this year, after China canceled the dynamic clearance policy, they were optimistic about the prospects for a time.These people say that the prerequisites for the return of transactions include the stimulus of China's policy, the stock prices in other places continue to rise, and the US interest rate trend is clearer.