China's Hony Capital-backed SPAC withdraws plans for US IPO

China's Hony Capital-backed SPAC withdraws plans for US IPO

Beijing, China. Photo by zhang kaiyv on Unsplash

A blank-check company backed by China’s buyout firm Hony Capital on Thursday withdrew plans for a U.S. initial public offering, becoming the latest such entity to reverse course amid rising market volatility.

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