Ken Wang covers China's ECM and the equity-linked market for IFR. Before joining Thomson Reuters IFR in January 2011, he worked as a stock editor for China Finance Online.
Chinese display advertising company Focus Media, once a target of short-seller Muddy Waters, is working on a backdoor listing in Shanghai as it prepares to return to the public equity markets two years after delisting its US stock.
The Shanghai Stock Exchange has, for the first time in years, surpassed the Stock Exchange of Hong Kong and longstanding leader New York Stock Exchange to become the world’s most active bourse for initial public offerings in the first quarter of the year.
Cloud Live Technology Group last week became the first listed local company to default on a bond principal payment in China’s onshore debt market, leading to uncertainty over whether the Beijing government would step in to help – as it always has in similar cases in the past – or finally leave investors to suffer losses.