SHANGHAI/HONGKONG - Chinese companies are putting off plans for U.S. listings as tensions between the world’s top two economies rise, lawyers, bankers, accountants and regulators involved in what has been a major capital-raising route told Reuters.
“We have seen clients putting their U.S. IPO plans on hold for now,” said Stephen Chan, a partner at law firm Dechert LLP in Hong Kong. “The underlying reason for the slowdown is the relationship between the U.S. and China,” he added.Chinese groups have raised $1.67 billion via initial public offerings in New York this year and are looking to raise about half billion more on U.S. exchanges, Dealogic data shows.Sino-U.S.
The China Securities Regulatory Commission did not respond to requests for comment, while the U.S. Securities and Exchange Commission declined to comment. Chinese authorities have long resisted audit papers leaving China, making it hard for U.S. auditing regulators to check the quality of audits of Chinese companies.
Communist China 🇨🇳 =DemocRATs
Good for US investors.
“The sanctions just got 10 feet taller.”
Fuck China
Wow. The bat eaters are pissed. I’m so scared.
THE NEW FEDERAL STATE OF CHINA . Ex-soccer star calls for end of CCP
Good 🇺🇸
China must be destroyed by nuclear weapons once and for all
Good
Time for America to kick out Chinese companies.
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Source: CNBC - 🏆 12. / 72 Read more »