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Recent Chinese Tech IPOs Have Been Tanking
Listings from the past year are down an average of 20 percent
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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. Two-thirds of the 21 tech IPOs in the past year are below their issue price, with shares down an average of 20 percent through Friday. Ride-hailing giant Didi Chuxing and smartphone maker Xiaomi Corp. are among at least 23 Chinese tech startups eyeing IPOs in Asia and the U.S., according to data compiled by Bloomberg.