BNKZ - Chinese IPOs on U.S. exchanges seen drying up as China clamps down - Bloomberg

Spencer Platt/Getty Images News The trend of Chinese IPOs flocking to U.S. exchanges is likely to end after a July 10 announcement from Beijing requires almost all businesses seeking to list their shares in another country to get approval from the country's cybersecurity regulator, Bloomberg reports, citing long-time industry watchers. "It's unlikely there will be any U.S.-listed Chinese companies in five to 10 years, other than perhaps a few big ones with secondary listings, Paul Gillis, a professor at Peking University's Guanghua School of Management in Beijing. DiDi Global's move to forge ahead with its New York listing in defiance of regulators' objections triggered the tighter control over Chinese firms wishing to list in foreign markets. Later, Beijing ordered DiDi's ride-hailing app to be removed from app stores, putting a chill on its stock. In the aftermath, a measure of U.S. traded Chinese stocks has declined 30% from a recent

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Chinese IPOs on U.S. exchanges seen drying up as China clamps down - Bloomberg