Chinese firms flood into US initial public offerings despite delisting threat

TThe floor of the New York Stock Exchange. Mainland China firms are rushing to offer their shares on New York exchanges, sometimes in blockbuster deals. – REUTERSPIXThe US government is threatening to delist Chinese companies that do not meet US accounting standards, but mainland firms are rushing to offer their shares on New York exchanges, sometimes in blockbuster deals.

So far this year, Chinese companies have raised US$5.23 billion in US initial public offerings, more than double the US$2.46 billion for the same period last year, Refinitiv data show. CEO Stanley Peng told Reuters on Thursday Beike had planned to list for two years and saw the delisting threat as minimal.

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