Market appetites for China tech will be tested next week as bankers price two blockbuster initial public offerings in the sector.
Food delivery group Meituan Dianping and electric vehicle maker Nio, both backed by Tencent, are rolling out roadshows at an ugly time for the sector.
Shares are being buffeted by macro concerns such as the US China trade war and the slowing domestic economy, as well as rising regulatory risk. Investors are also growing increasingly queasy about the sector’s propensity to burn cash, something in evidence at both Nio and Meituan.
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