JPMorgan lost its role as the most senior underwriter for the Hong Kong listing of Chinese cloud service provider Kingsoft Cloud Holdings, after the bank’s analyst cut the price target for the company’s U.S.-listed shares, Bloomberg reported. While JPMorgan continues to be one of the underwriters for the listing, the bank is now ranked behind other underwriters UBS and CICC, according to...
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Sequoia Capital China Buys Discounted Stake in Prominent E-Commerce App
Sequoia Capital China recently acquired a stake in Chinese social e-commerce app Xiaohongshu from existing investors at a discount to the company’s most recent equity financing valuation, according to three people with knowledge of the matter. Sequoia China, which is preparing to separate from Silicon Valley’s Sequoia Capital next year, bought the Xiaohongshu shares earlier this...
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