Caixin
Jul 03, 2018 10:59 PM
FINANCE

Update: CDR Excitement Wanes as Tech Firms Balk Over Price

* Internet firms have been unwilling to compromise on price of CDR issuances, a fund manager said

* It has also been difficult to price the shares of tech giants like Alibaba and JD.com because their lofty overseas valuations exceed caps set by mainland regulators

(Beijing) — One after another, China’s internet giants are growing less enthusiastic about Chinese depositary receipts (CDRs), as the companies struggle to reach an agreement with regulators about how they should be priced under existing market rules.

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