The world this week - Business
Son Masayoshi, the boss of SoftBank, said he was curbing his conglomerate’s enthusiasm to invest in Chinese startups until the extent of the Chinese government’s crackdown on the tech industry becomes clearer in the coming years. The Japanese company is a big investor in Alibaba and Didi Global, two targets of the ire of regulators in Beijing.
Uncertainty about the future of internet firms in China was one factor behind the poorly received IPO of Krafton, a South Korean video-games developer that produces the “PlayerUnknown’s Battlegrounds” series. Krafton is backed by Tencent, which distributes its games in China. However, Krafton also had to reduce the listing price for its shares when the Korean regulator questioned how it was calculated.
The American government’s ban on Chinese tech firms with suspected military ties obtaining American technology hit Huawei hard in the first half of the year. Revenue fell by almost 30% compared with the first six months of 2020, and by almost 50% in its consumer-electronics business, which relies on American chips for smartphones.
Bukalapak raised $1.5bn when it listed its shares on the Jakarta stockmarket, making it Indonesia’s biggest-ever IPO. The e-commerce group has the backing of big foreign investors, including Microsoft and Jack Ma’s Ant Group, and is the first unicorn startup to go public in the country.
America’s Securities and Exchange Commission approved a controversial requirement by the Nasdaq for companies that list on its markets to disclose statistics on the diversity of their boards and to have at least two “diverse directors”, or explain why they do not. One director must be a woman and the other from a racial or sexual minority; all must “identify” with their diverse group. Firms have a few years to comply.
Hunger and extreme poverty curb human potential in every possible way.
Their ire was directed mainly at the government.
3.listing price 牌价；上市价格
As The Economist went to press it was trading at $41.29, 8% below its listing price.
4.go public 上市；公开宣布；把秘密公开
We’re hoping to go public early next year.