Citi Credit Suisse reportedly withdraws from U.K.'s U.S. IPO underwriter due to huge valuation divergence

People familiar with the matter said that Citi and Credit Suisse had withdrawn from the U.K. IPO underwriters because they were unhappy with their expected valuation. It's unclear how much of a gap the valuation sought by Youke Factory and the valuations Citi and Credit Suisse believe may be reached. In recent months, Credit Suisse has also withdrawn from the U.S. IPO underwriters of Chinese drone maker EHang and cryptocurrency mining equipment maker Jia Nan Yunzhi.