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But for companies in the science and innovation sector, IPOs are not always necessary, given the availability of rich capital from private equity and venture capital firms, Wu added.

But Romney’s comments got even weirder — as you can see in The Daily Show clip below — when he compared President Barack Obama to a pay phone. “President Obama’s strategy is a pay phone strategy, and we are in a smartphone world,” said Romney as he held up what appeared to be an iPhone.

But Pang cautioned that Chinese investors are likely to face competition in future deals, compared with the months after the Brexit vote.

But a suitable location in Malaysia is yet to be determined.

But over time, he warmed to the idea. “I became very optimistic and in the intervening year I’ve become even more optimistic,” he said.