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Shanghai COVID lockdown holds up more than a dozen IPOs

Businesses planning to list unable to perform due diligence

The Shanghai Stock Exchange. The bourse has waived listing fees and offered IPO consultations online while the city remains locked down due to high COVID cases.   © Reuters

SHANGHAI -- A number of Chinese companies have suspended their planned initial public offerings as a new lockdown on the financial hub of Shanghai over the spread of the coronavirus stymies preparations to list. 

At least 16 companies said they have halted IPO processes for Shanghai's tech-focused STAR market and Shenzhen's CHINext bourse for startups, according to releases on Tuesday. The companies include device maker Nanjing Cigu Technology and auto supplier Zhejiang Sling Automobile Bearing.

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