Earlier this month Sequoia, the Silicon Valley venture capital group, said it would spin off its China business and run it as a “completely independent” entity from its US operations. Neil Shen, the billionaire founder of Sequoia China, said there was “much less in common now” between the Sequoia entities.
“Every multinational with a strong China business” seems to have considered a similar move, one senior Asia-based banker said. “Even if it’s just the option to give you flexibility in the future, it’s worth thinking about.” One consultant to pharmaceutical companies added that pursuing a domestic listing could help AstraZeneca court Beijing’s support for drug innovation and win faster approvals for therapies developed in China.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: