A record number of companies are abandoning attempts to list on China’s answer to the Nasdaq, as regulators increase scrutiny of technology businesses after scuppering Ant Group’s $37bn initial public offering.
A Financial Times analysis of figures released by Shanghai’s Star Market, which was launched to fanfare in July 2019, shows a record 76 companies suspended their IPO applications in March, or more than double the previous month.
The flurry of cancellations pushes the