SHANGHAI/HONG KONG (Reuters) - When Chinese venture capital firm New Vision Capital invested in two startups focusing on cloud computing and micro-optics, the plan was to eventually take them public on the Nasdaq exchange.
But with the launch of China’s new STAR Market tech board - and an escalating trade war with the United States - partner Frederick Shen said it makes more sense to list loss-making DaoCloud and North Ocean Photonics in Shanghai.
“The trade war has quite a big impact,” Shen said, adding that trade tensions inject uncertainty into valuations, financing and capital expenditure plans.
Listing closer to the ...
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