Citi, Credit Suisse drop China's Ucommune U.S. IPO over valuation - sources
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SYDNEY/HONG KONG (Reuters) - Citigroup and Credit Suisse have dropped out of the U.S. initial public offering (IPO) of Chinese shared workspace provider Ucommune, baulking at its desired valuation, two people with direct knowledge of the matter said. Ucommune's latest filing with the U.S Securities and Exchange Commission list Chinese banks Haitong International and China Renaissance as leading the planned IPO.Earlier filings had named Citi and Credit Suisse, but both walked away over the past..