Shares slumped as much as 16% and the company’s debut was the worst Hong Kong IPO of more than $500 million in three years. “Chinese fintech companies are going through a particularly hard year after Beijing torpedoed Ant Group Co.’s initial public offering, signaling wider crackdowns for the sector,” according to the article.
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China’s Fintech Sector Continues to Struggle, Bairong the Latest Victim
The Chinese technology sector continues to flounder as fintech Bairong Inc. limped into its Hong Kong debut. So reports Yahoo! Finance.
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