Deals
Struggling Chinese Tech Debuts Don't Bode Well for Unicorn IPOs
- Trend could continue as at least 23 tech firms want to IPO
- Big tech firms expected to come to market led by Xiaomi, Didi
Photographer: Brent Lewin/Bloomberg
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The struggles of Chinese tech startups that went public in the past year is a bad omen for the slew of unicorns looking at initial public offerings.
Smartphone maker Xiaomi Corp. and ride-hailing giant Didi Chuxing are among at least 23 Chinese tech startups eyeing IPOs in Asia and the U.S., according to data compiled by Bloomberg. But the performance of those that listed in the past year doesn’t augur well for them.