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Alibaba-Backed YH Entertainment Is Said to Suspend Hong Kong IPO
- Artist manager saw disconnect over valuation
- This firm’s investors also include $ByteDance (FT0001)$ ’s Douyin.
- This firm’s investors also include $ByteDance (FT0001)$ ’s Douyin.
$YH ENT (02306.HK)$ has pulled its first-time share sale in Hong Kong as investor interest didn’t meet its valuation expectations, a person with knowledge of the matter said.
The Alibaba Group Holding Ltd.-backed company was expected to price its initial public offering of as much as $140 million Wednesday, but decided to suspend the process and wait for better market conditions.
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GODGIVENFOOL139 : ok