Xunlei calls off US IPO after reducing price range

Consumer internet platform Xunlei was aiming to raise up to $122 million, but quality investors chose to stay away amid a tough market and lingering concerns about corporate governance at Chinese firms.

The uncertain market environment and concerns about corporate governance at Chinese firms took another toll yesterday when China-based consumer internet platform Xunlei decided to call off its initial public offering in the US.

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