Chinese tech firms forced into 'blood listings' as capital dries up

Chinese tech firms forced into 'blood listings' as capital dries up

People walk along an elevated walkway as an electronic ticker displays the figures of the Shanghai Composite Index, top, and the SZSE Composite Index in Pudong's Lujiazui Financial District in Shanghai, China, on Saturday, June 2, 2018. China's banks, scrambling to adjust to the government's deleveraging campaign, are likely to add to pressures on the corporate bond market as they shed more of their massive note holdings and de-risk their balance sheets. Photographer: Qilai Shen/Bloomberg

A growing number of Chinese tech start-ups, once the darlings of equity markets, are willing to list shares publicly in China at valuations lower than during private funding rounds in so-called blood listings.

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