Lalamove Weighs Moving IPO Venue From U.S. to Hong Kong
- Chinese delivery firm fears delay after regulators crack down
- Didi listing prompted app store ban, cybersecurity reviews
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Chinese on-demand logistics and delivery firm Lalamove is considering shifting its planned $1 billion U.S. initial public offering to Hong Kong, people familiar with the matter said, as regulators in its home country crack down on the wave of firms chasing overseas listings.
The company, which filed confidentially for a U.S. IPO last month, is weighing a venue switch amid concerns about the uncertainty created by Chinese regulators’ proposed new rules, the people said, asking not to be identified as the information is private.