Zhenkunhang Industrial Supermarket Shanghai, an industrial accessories ecommerce platform, is revisiting its plan to list in the US after China indicated that it would greenlight such IPOs of certain local companies, people with knowledge of the matter told Bloomberg.
According to the sources, the China Securities Regulatory Commission has informed banks that Chinese companies may be allowed go public in the US, as long as they don’t hold sensitive data, among other criteria.
Zhenkunhang is collaborating with China Renaissance Holdings and Goldman Sachs Group to restart IPO preparations.
After ride-hailing giant Didi Chuxing’s US listing fiasco last year, several companies had reportedly changed or put their IPO plans on hold.
Editing by Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
