Hong Kong IPO by GoGoX is a sign that China's tech crackdown is letting up

GOGOX co-founder and CEO Steven Lam. Source: GOGOX

Logistics platform operator GoGoX plans an initial public offering in Hong Kong next week, a sign that China’s crackdown on the tech industry might be letting up.

GoGoX, which has been dubbed “Uber for logistics,” aims to raise 567.3 million Hong Kong dollars ($72.3 million) after fees and expenses in its June 24 debut, it was announced Tuesday. The figure is much lower than earlier reports indicated, suggesting that the offering was scaled back in response to a sluggish market.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter