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JPMorgan Loses Lead Role in Kingsoft’s IPO After Analyst Cuts Target

By
Juro Osawa
· · Source: Bloomberg

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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