Delisting of US-listed Chinese firms to boost Hong Kong's status as fundraising hub
Advertisement
'These companies may consider a secondary listing or a dual-primary listing in Hong Kong to raise funds, which will boost the initial public offering (IPO) market,' said Tom Chan Pak-lam, honorary president of the Institute of Securities Dealers, an industry body for stockbrokers.
A total of 286 Chinese companies were listed on the New York Stock Exchange, Nasdaq and NYSE American with a combined market capitalisation of US$1.1 trillion at the end of March, according to data from these exchanges.
Since January 2024, 48 mainland firms have listed on the three US bourses, raising a combined US$2.1 billion, including self-driving car firm Pony.ai and Geely's EV unit Zeekr.
02:54
Trump raises China tariffs to 125%, pauses US levies on most other nations for 90 days
Trump raises China tariffs to 125%, pauses US levies on most other nations for 90 days
Their fate remains uncertain after US Treasury Secretary Scott Bessent declined to rule out the possibility that Washington might delist Chinese stocks from US exchanges.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
3 hours ago
- South China Morning Post
China, US to extend tariff pause at Sweden talks by another 90 days: sources
Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday, according to sources close to the matter on both sides. China and the United States agreed in May to remove most of the heavy tariffs levied on each other's goods for 90 days while continuing trade negotiations. That suspension is set to expire on August 12. During the third round of trade negotiations between the world's two biggest economies, both will expound their views on major sticking points – such as the US' concerns over China's industrial overcapacity – rather than achieve specific breakthroughs, the sources said. One source said that, during the expected 90-day extension, the two nations will commit to not impose additional tariffs on each other, nor escalate the trade war by other means. According to three people familiar with Beijing's position, while the earlier discussions in Geneva and London focused on 'de-escalation', in the latest meeting the Chinese delegation will also press Trump's trade team on fentanyl-related tariffs.
South China Morning Post
a day ago
- South China Morning Post
50 workers seek HK$600,000 in unpaid wages as another restaurant set to close in Hong Kong
About 50 workers are chasing at least HK$600,000 (US$76,437) in unpaid wages as another Chinese restaurant prepares to shut down next month, amid a string of closures in the Hong Kong catering sector. A notice announcing the imminent closure was posted at Star Seafood and Roasted Goose Restaurant branch at Chuk Yuen Plaza in Wong Tai Sin. 'Due to lease expiration, we plan to close our business on August 1, 2025,' Star Seafood Restaurant Group said. The restaurant has five operating branches, including the one set to shut down. The branches are under Star Seafood Restaurant Group, which was established in 2000, and also operates other brands in Hong Kong, such as Star Seafood Restaurant, Golden Star Restaurant and Star Palace. Lawmaker Lam Chun-sing of the Federation of Hong Kong and Kowloon Labour Unions said on Saturday the closure affected the restaurant's 40 to 50 employees.
South China Morning Post
2 days ago
- South China Morning Post
Trump in Scotland for golf and trade talks amid hopes of EU deal
US President Donald Trump, dogged by questions about his ties to disgraced financier and sex offender Jeffrey Epstein, arrived in Scotland on Friday for some golf and bilateral talks that could yield a trade deal with the European Union. Trump told reporters upon his arrival that he will visit his two golf properties in Scotland and meet with British Prime Minister Keir Starmer and European Commission President Ursula von der Leyen, whom he called a 'highly respected woman.' As hundreds of onlookers cheered his arrival, Trump repeated his earlier comment about a 50-50 chance of securing a deal with the EU, adding it would be his administration's biggest trade agreement thus far, if it came together. However, he said there were still 'sticking points' with Brussels on 'maybe 20 different things'. Trump said his meeting with Starmer would be more of a celebration of the trade deal already reached than continued work on it, adding: 'It's a great deal for both.' Before he left Washington, Trump said his administration was working hard on a possible trade deal with the EU, and Brussels was keen to make a deal. Von der Leyen said later she would meet Trump in Scotland on Sunday.
