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Stock impact report

Nasdaq says IPOs by Chinese firms could pick up ‘dramatically' as delisting fears ease [CNBC]

Li Auto Inc. - American Depositary Shares (LI) 
Company Research Source: CNBC
“We still have a pretty strong pipeline … as things are getting to become a little more clear in that market. We think that that market could pick up pretty dramatically,” said Bob McCooey, vice chairman of Nasdaq, who does business development in the Asia-Pacific, told CNBC on Wednesday. The market for Chinese initial public offerings “pretty much [shut] down” in light of the Holding Foreign Companies Accountable Act and the noise around Chinese ride-hailing giant Didi Chuxing , he told “Street Signs Asia .” Delisting risk for U.S.-listed Chinese companies sharply increased following the signing of the Holding Foreign Companies Accountable Act in late 2020. The law allows the U.S. Securities and Exchange Commission to kick Chinese companies off American stock exchanges if American regulators are not able to review company audits for three years in a row. Chinese ride-hailing giant Didi 's announcement of plans to delist from the New York Stock Exchange in late 2021 — just si Show less Read more
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