Deals
China Going-Private Targets Extend Selloff on Deal Scrutiny
- 21Vianet, Momo lead declines in U.S., plunging most on record
- CSRC says it's conducting in-depth analysis on market impact
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U.S.-traded Chinese companies that are seeking to move their listings to the mainland tumbled for a third day as speculation mounted that the Chinese regulator will move to prevent the deals from going through.
The American depositary receipts of Momo Inc., the Chinese dating app, fell 16 percent to $12.27, the most since its initial public offering in 2014. YY Inc. extended a 3-day decline to 22 percent, the most on record since its 2012 debut. Qihoo 360 Technology Co., whose $9.3 billion go-private bid is the biggest among Chinese ADRs. plunged 11 percent. The Bloomberg China-U.S. Equity Index fell 3.6 percent.