![]() regulators will potentially gain more access to audit documents of New York-listed Chinese companies.Īnalysts also note the tougher stance coincides with new U.S. listing plans and opt for Hong Kong instead, with one source at the time citing Beijing's concerns that U.S. In May, Reuters reported that Beijing was pressing audio platform Ximalaya to drop U.S. The tougher stance by the Cybersecurity Administration of China has been driven in part by concerns that the United States could gain greater access to data owned by Chinese firms - similar to concerns that the previous Trump administration had voiced about Chinese firms operating in the United States. later this year, a review of the filings showed. listings, Refinitiv data shows, well up from the $1.9 billion from 14 deals in the same period a year ago.Įight Chinese companies including home service platform Daojia Ltd and Atour Lifestyle Holdings have made public filings with the Securities and Exchange Commission (SEC) to list in the U.S. So far this year, a record $12.5 billion by Chinese firms has been raised from 34 U.S. capital markets have been a lucrative source of funding for Chinese firms in the past decade, especially for technology companies looking to benchmark their valuations against listed peers there and tap an abundant liquidity pool. Morgan Stanley, Bank of America, and China International Capital Corp Ltd (CICC) were the investment banks on the deal and all declined to comment to Reuters. LinkDoc did not immediately respond to a request for comment. The sources declined to be identified as the information has not yet been made public. The book closed one day earlier than planned on Wednesday, one of the three sources and a separate person said. It had planned to sell 10.8 million shares between $17.50 and $19.50 each. and make it more difficult to raise funds overseas," he said.īacked by Alibaba Health Information Technology Ltd, LinkDoc filed for its IPO last month and was due to price its shares after the U.S. "The new rules may impose long waiting periods on any companies hoping to list abroad which will hit investor sentiment, depress valuations for IPOs in the U.S. listing, they may have to wait for further clarification, stricter scrutiny and pre-approval from different regulators and authorities," said Bruce Pang, macro & strategy research head at China Renaissance Securities. has done well in terms of market capitalisation but it needs to “attract an army of money managers” to enable it to compete with New York and London.Ĭhina is generating tremendous new capital, which makes it easier to stage initial public offerings of state-owned companies in places like Shanghai.įor Shanghai China Escrow Services, contact GTES.LinkDoc's decision to suspend its $211 million IPO, first reported by Reuters, is likely to be followed by others, analysts said, although they noted that U.S. In the latest ranking, its score (740) is just one point behind Tokyo. The exchange is considered restrictive in terms of trading and listing criteria.Įxperts predict Shanghai will become the world’s biggest financial hubs within a decade. ![]() The China Securities Regulatory Commission (CSRC) directly governs the SSE. The Shanghai Stock Exchange (SSE) is mainland China’s most preeminent market for stocks in terms of turnover, tradable market value and total market value. ![]() Shanghai is home to the world’s fourth-largest exchange with a market cap of over $4 trillion. ![]() The city is having a population of 26.3 million. The Shanghai Stock Exchange (SSE) is the only and main Stock Exchange in Shanghai. Shanghai is China’s largest city and a global financial center. The Chinese government in early 2009 announced its ambition of turning Shanghai into an international financial center by 2020. Shanghai is the world’s third most populous city, behind Tokyo and Delhi.
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