Chinese IPOs are coming back to the U.S.
Publishing timestamp: 2023-02-10 03:22:51
Summary
Chinese startups are raising millions of dollars in U.S. stock market listings again, after a dry spell in the once-hot market. Hesai Group, which sells "lidar" tech for self-driving cars, listed on Nasdaq Thursday and raised $190 million in its initial public offering. Chinese authorities have announced a new rule requiring internet platform operators with personal information of more than 1 million users to apply for cybersecurity review before they can list overseas. The Public Company Accounting Oversight Board (PCAOB) also reached an agreement last year with China's securities regulator and finance ministry to inspect audit work papers of Chinese companies listed in the U.S. This has opened the floodgates for more Chinese companies to prepare for listings in the U.S.
Sentiment: POSITIVE
Tickers: UNDEFINED, LI, 2015-HK,
Keywords: market insider, markets, stock markets, business news, quantasing group ltd, li auto inc,
Source: https://www.cnbc.com/2023/02/10/chinese-ipos-are-coming-back-to-the-us.html