Nasdaq to tighten listing rules, restricting Chinese IPOs: Sources

NEW YORK - 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 .

At a time of escalating tensions between the United States and China over trade, technology and the spread of the novel coronavirus, Nasdaq's curbs on small Chinese IPOs represent the latest flashpoint in the financial relationship between the world's two largest economies. The new tightening of the listing standards reflects the bourse operator's ongoing concerns about some Chinese companies seeking US IPOs. Last month, Luckin Coffee, which had a US IPO in early 2019, announced that an internal investigation had shown its chief operating officer and other employees fabricated sales deals.

This is the first time Nasdaq has put a minimum value on the size of IPOs. The change would have prevented several Chinese companies currently listed on the Nasdaq from going public. Out of 155 Chinese companies that listed on Nasdaq since 2000, 40 grossed IPO proceeds below $25 million, according to Refinitiv data.

Source: News Formal (newsformal.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(!)

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