Chinese technology companies are pressing ahead with plans for initial public offerings (IPOs) in the United States, despite the current market turmoil and heightened tensions between Washington and Beijing. Beijing Smart Walnut Education Technology Co., which operates under the brand name Walnut Coding, is among the firms considering a US listing, according to people familiar with the matter. The company, which provides coding education services for children, is aiming to raise approximately $100 million through the IPO, the people said, requesting anonymity due to the private nature of the discussions.
The move by Chinese firms to pursue US listings comes amid a challenging environment for IPOs globally. Market volatility has made investors cautious, while the relationship between the US and China remains strained, adding to the complexity of such financial maneuvers. Despite these challenges, Beijing Smart Walnut Education Technology’s plans reflect the ongoing interest from Chinese companies in tapping into US capital markets.
Walnut Coding’s potential IPO is particularly noteworthy given the current market conditions. The company’s decision to seek a US listing highlights the confidence some Chinese firms have in their growth prospects, even as they navigate the complexities of international financial markets and geopolitical tensions.
