Nasdaq Inc is set to unveil new restrictions on initial public offerings , a move that will make it more difficult for some Chinese companies to debut on its stock exchange, people familiar with the matter said on Monday.
While Nasdaq will not cite Chinese companies specifically in the changes, the move is being driven largely by concerns about some of the Chinese IPO hopefuls' lack of accounting transparency and close ties to powerful insiders, the sources said.
The new tightening of the listing standards reflects the bourse operator's ongoing concerns about some Chinese companies seeking U.S. IPOs. Last month, Luckin Coffee , which had a U.S. IPO in early 2019, announced that an internal investigation had shown its chief operating officer and other employees fabricated sales deals.
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Nasdaq to tighten listing rules, restricting Chinese IPOs: SourcesNEW YORK (REUTERS) - Nasdaq Inc is set to unveil new restrictions on initial public offerings (IPOs), a move that will make it more difficult for some Chinese companies to debut on its stock exchange, people familiar with the matter said on Monday (May 18).. Read more at straitstimes.com. Raising the minimum capitalization may disadvantage domestic companies as well. However there are plenty of other possible alternative markets in the world, even in Canada(!)
Source: The Straits Times - 🏆 8. / 63 Read more »
Nasdaq to tighten listing rules, restricting Chinese IPOs: SourcesNEW YORK (REUTERS) - Nasdaq Inc is set to unveil new restrictions on initial public offerings (IPOs), a move that will make it more difficult for some Chinese companies to debut on its stock exchange, people familiar with the matter said on Monday (May 18).. Read more at straitstimes.com. Raising the minimum capitalization may disadvantage domestic companies as well. However there are plenty of other possible alternative markets in the world, even in Canada(!)
Source: The Straits Times - 🏆 8. / 63 Read more »
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