News Snapshot:
Chinese online insurance technology firm Waterdrop Inc is receiving pushback from domestic regulators on its planned US initial public offering as its business model is seen as risky, four people familiar with the situation told Reuters. Waterdrop, which is backed by internet giant Tencent Holdings, has been working with financial advisers since mid last year on going public and had already made a confidential filing for the float, said three of the people. The China Banking and Insurance Regulatory Commission (CBIRC), however, has questioned the company's business risks, which has slowed down the IPO process, they said. CBIRC even told...
