New york stock exchange company listing

Source: Reuters Several Chinese state-owned companies including China Life Insurance (601628.SS) and oil giant Sinopec (600028.SS) announced plans on Friday to delist from the U.S. stock market. The companies, which also include Aluminium Corporation of China (Chalco) (601600.SS) and PetroChina (601857.SS), said in separate statements that they would apply for delistings of their American Depository Shares from the New York Stock Exchange (NYSE). The four will keep their listings in Hong Kong and mainland Chinese markets. "These companies have strictly complied with the rules and regulatory requirements of the U.S. capital market since their listing in the U.S. and made the delisting choice for their own business considerations," the China Securities Regulatory Commission (CSRC) said in a statement. China and the United States have been in talks to resolve a long-running audit dispute that could result in Chinese companies being kicked off American exchanges if they … [Read more...] about Four Chinese state-owned companies to delist from NYSE

Five state-owned Chinese companies announced that they would delist from the New York Stock Exchange (NYSE) Friday, as tensions between China and the U.S. remain high and a dispute over regulatory issues remains unresolved, Reuters reported. Oil conglomerate Sinopec, China Life Insurance, Aluminum Corporation of China, PetroChina and the Sinopec subsidiary Sinopec Shanghai Petrochemical Co. all annouced they would delist from the NYSE at the end of August, Reuters reported . Companies listed on the NYSE are required by U.S. law to submit to U.S. auditing, which China has refused to do, leading to the possibility that Chinese companies remaining listed may be forcibly removed by the U.S., according to The Wall Street Journal . (RELATED: Here’s How Markets Reacted To Pelosi’s Taiwan Trip) “These companies have strictly complied with the rules and regulatory requirements of the U.S. capital market since their listing in the U.S. and made the delisting choice for their own … [Read more...] about Five Chinese Companies Leave NY Stock Exchange — Here’s Why More Could Follow

- A + A HONG KONG/SINGAPORE (Aug 12): US-listed China stocks slid on Friday after some of the Asian nation's largest state-owned companies announced plans to delist from American exchanges amid a spat over audits and generally worsening tensions between the world's top two economies. China Petroleum & Chemical Corp (Sinopec), China Life Insurance Co, and PetroChina Co were among the biggest decliners on the Nasdaq Golden Dragon China Index with a drop of at least 3% each after they all disclosed their intentions to delist. The sudden announcements also sparked a slump in Alibaba Group Holding Ltd, Pinduoduo Inc, and JD.com Inc, which all fell more than 1%. The Golden Dragon Index declined as much as 2.8%, the most in a week. About 200 Chinese companies, including Alibaba and Baidu Inc, are listed in the US and are likely to face delisting threats because American regulators are not able to verify their financial audits. State-owned enterprises are deemed able to … [Read more...] about Sinopec, US-listed China stocks drop amid exit woes

Yet another quantum computing company has gone public via SPAC. advertisement advertisement D-Wave completed a planned merger on Monday with DPCM Capital (the latter of which was already listed on the New York Stock Exchange), making the Canada-based firm the third quantum player to go public via a SPAC —that is, a special purpose acquisition company—within the last year. (The other companies? Rigetti and IonQ .) It’s an interesting trend, but perhaps not a surprising one: According to D-Wave CEO Alan Baratz, the until-recently-obscure financial quirk offers his company—one that’s in a still-budding sector—faster access to capital. “In some sense SPACs are ideal for a company that has huge potential but is going to take some time to mature,” he tells Fast Company . “With a SPAC, you’re able to tap into the funding sources in the public markets to accelerate your growth and do it based on the future potential.” advertisement … [Read more...] about Why quantum computing companies like D-Wave are using SPACs to IPO

- A + A HONG KONG (Aug 12): Five of China's largest state-owned companies have announced plans to delist from US exchanges as the two countries struggle to come to an agreement allowing American regulators to inspect audits of Chinese businesses. China Life Insurance Co, PetroChina Co, and China Petroleum & Chemical Corp all disclosed their intentions to delist in statements published in quick succession on Friday, along with Aluminum Corp of China and Sinopec Shanghai Petrochemical Co. The US and China have been at odds for two decades over allowing American inspectors access to the audit work papers of Chinese companies. Negotiators have yet to hammer out an agreement with the clock ticking on a congressionally imposed deadline of 2024 to kick off businesses that do not comply. Mainland China and Hong Kong are the only two jurisdictions worldwide that do not allow inspections by the Public Company Accounting Oversight Board (PCAOB), with officials there … [Read more...] about China state-owned giants to delist from US amid audit spat

George Soros’s investment firm bolstered its stakes in Amazon.com Inc, Salesforce Inc and Alphabet Inc, among other large technology companies. (File pic by Reuters) - A + A (Aug 13): Soros Fund Management increased its holdings of big tech stocks ahead of their sharp rally in recent weeks, while adding more than US$200 million in shares of American Campus Communities Inc. George Soros’s investment firm bolstered its stakes in Amazon.com Inc, Salesforce Inc and Alphabet Inc, among other large technology companies. All three rank among its top 10 holdings as of the end of June, according to a regulatory filing Friday. The New York-based firm also added a new US$20 million position in Elon Musk’s Tesla Inc, though that represents only about 0.4% of Soros’s US$4.6 billion US equities portfolio, which fell US$664 million in the second quarter. Other new additions included US$168 million of Alleghany Corp stock and US$201.5 million in shares of American Campus, which … [Read more...] about Soros reloads on big tech with Amazon, Google and new Tesla bet