5 Chinese companies requested to be removed from Wall Street

Trending 08/19/22, 18:48

Chinese state-owned companies requested "voluntary exclusion" from the U.S. stock market, allegedly due to high costs and low returns. These companies are Sinopec and PetroChina, two of the world's largest oil companies, the Aluminum Corporation of China (Chalco), as well as China Life Insurance, and a Shanghai-based subsidiary of Sinopec. For years ...

Buyout discount from top China employment firm leaves investors skeptical

China 03/04/22, 18:42

The top provider of integrated employment services in China, 51job, Inc., announced a buyout discount for a merger deal for the second time since its original offer last year. This situation teaches investors the pitfalls of pinning deal hopes to regulatory arbitrage. The U.S.–listed Chinese employment site said on March 1 ...

Didi to lay off 20% of workforce: Report

China 02/21/22, 01:52

Caixin reported that Didi Chuxing Technology Co., a Chinese online car-hailing giant, plans to reduce its overall workforce by 20%. The layoff notice will be completed by the end of February. In 2021, Didi was repeatedly entangled in a storm of public opinion, from antitrust fines to the founder's background to ...

After China’s regulatory storm, Chinese firms relaunch IPO’s in US

China 02/17/22, 04:55

VOA reported that more Chinese companies are gearing up for an initial public offering (IPO) on the New York Stock Exchange (NYSE) right after the Lunar New Year. This move perhaps indicates that some Chinese companies ignored the reminders and warnings of Chinese regulators last year when they forced Didi Global ...

Why are Chinese companies forced to withdraw from the US?

China 12/07/21, 04:02

The U.S. Securities and Exchange Commission announced on Dec. 2, that companies listed in the United States must prove whether they were owned and controlled by government entities and provide evidence for an audit inspection. Bloomberg said the final plan of the "Foreign Corporate Liability Act" requires foreign companies to disclose ...

Didi Chuxing delisted on NYSE after CCP’s investigation

New York 12/06/21, 02:16

On December 3, Didi Chuxing Technology Co was delisted on the New York Stock Exchange. Didi is a ride-sharing platform that shares a similar business model to Uber of the U.S. Internal information from a state-owned securities company said that the Cyberspace Administration of China had not allowed Didi to list ...

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