The coronavirus epidemic has hit dealmaking in China, causing the number of acquisitions and initial public offerings to tumble as bankers are barred from travel and face-to-face negotiations remain impossible for fear of spreading the disease.
Investment bankers and lawyers said the outbreak had prompted buyers to hold off on acquisitions in the hope of snapping up assets at a lower price, and threatened to delay high-profile listings including Megvii, the $4bn Chinese facial recognition company.
A delay for IPO timetables is unavoidable, said Mike Suen, a Hong Kong-based partner at international law firm Withers.
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