Deals
Pioneering Rapper Blasts Citi, Deutsche for Shelved Startup IPO
- M17 defers U.S. listing, opts for private funding round
- Live-streaming platform cites unspecified ‘settlement issues’
The New York Stock Exchange.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Jeffrey Huang, the veteran rapper who pioneered Taiwan’s hip-hop scene, publicly lashed out at two investment banks after his tech startup shelved its U.S. initial public offering.
M17 Entertainment Ltd., the live-streaming platform that Huang co-founded, said in a statement dated Wednesday it’s deferring its listing due to unspecified “settlement issues” with some investors. In a post on his verified Facebook page, Huang used a four-letter expletive to express his displeasure with Citigroup Inc. and Deutsche Bank AG, the lead underwriters of the sale.