By Samuel Shen and Andrew Galbraith
SHANGHAI (Reuters) - Chinese e-scooter maker Ninebot Ltd will launch a domestic initial public offering soon with a listing structure that shows how eager Beijing is for Chinese tech companies to list at home amid rising tensions with Washington.
China's securities regulator gave Ninebot the go-ahead late on Tuesday to float on Shanghai's Nasdaq-style STAR Market, making it the first company with a VIE structure to sell Chinese Depository Receipts (CDRs).
The variable interest entities (VIE) structure was created two decades ago to circumvent Chinese rules restricting foreign investment in sensitive industries such as media and telecommunications, enabling Chinese companies such as Sina Corp, Netease and Sohu.com to raise overseas money via offshore listings.
Ninebot, which counts Xiaomi Corp <1810.HK> as a key customer, plans to raise 2 ...
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