Wanda flop sours China-to-US IPOs

摘要

The dismal trading debut of WANDA SPORTS GROUP is expected to add to the challenges of future China-to-US IPOs, even as trade tensions escalate between the two countries. Shares of Wanda Sports Group, part of Chinese billionaire Wang Jianlin's Dalian Wanda Group conglomerate, tumbled 36% on July 26, even after the company cut its fundraising size twice. Wanda shares closed at US$5.16 on their first trading day, versus the IPO price of US$8. The stock continued to fall last week, closing at US$4.68 on Thursday, 42% below water.