This article only represents the author's own views.
Something new is happening on the way to the market. In the last month and a half, three Chinese firms that were seeking to list in New York have formally withdrawn their applications, including two this month. While it’s hardly uncommon for companies to fail in their listing attempts, an open admission of failure is a bit more unusual.
In this case, the flurry of formal withdrawals looks directly tied to an ongoing crackdown on suspicious “pump and dump” Chinese listing by regulators and politicians on both sides of the Pacific. While we can’t say for sure whether these three new withdrawals fall into that category, they certainly fit the profile with their small fundraising targets.
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