China's Quora-alike Q&A site Zhihu drops after IPO

2021-03-27 07:37:00

China’s online Q&A service Zhihu Inc. fell 11% in its U.S. trading debut after a $522.5 million initial public offering.

Zhihu’s American depositary shares, which sold for $9.50 in the IPO, closed at $8.50 in New York trading Friday.

The pricing comes as U.S.-listed Chinese firms tumbled after the Securities and Exchange Commission said it would begin to implement a law forcing accounting firms to let U.S. regulators review financial audits of overseas companies.

Zhihu IPO

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