Date: 2018-05-04
The wave of massive Chinese tech IPOs has begun
Investors are preparing for a blockbuster year of Chinese tech IPOs.
Smartphone maker Xiaomi filed this week to go public in Hong Kong in what’s expected to be the world’s biggest IPO since 2014. It is one of several major Chinese tech companies that could make their stock exchange debuts this year.
They include China’s biggest ride-hailing company, Didi Chuxing; the country’s top mobile payments firm, Ant Financial; and China’s most popular music streaming business, owned by Tencent (TCEHY).
The companies have built up their businesses to “a size that is interesting for institutional investors,” said Hans Tung, managing partner with venture capital firm GGV Capital, which is an investor in Didi and Xiaomi.