News Snapshot:
Hellobike (Photo: VCG) Alibaba-backed bike-sharing platform Hellobike canceled its IPO plan in the US stock market three months after submitting its prospectus, according to the company’s regulatory filling on Tuesday. “The company is seeking withdrawal of the Registration Statement because it no longer wishes to conduct a public offering of securities at this time,” said the filing. The company will make further decisions on the IPO process in accordance with new regulations and the capital market environment, the paper.cn reported on Wednesday, citing sources from Hellobike. Hellobike has not been the only Chinese firm to cancel its US IPO plans....
