At least four firms listed in China are exploring issuing global depositary receipts on the SIX Swiss Exchange by 2022, Bloomberg reports.
Chinese energy drink maker Eastroc Beverage Group Co chose China International Capital Corp and Goldman Sachs Group, Inc GS for a potential Switzerland share sale that could raise $500 million.
The move marks growing U.S.- China rivalry reflected via the former’s embargoes on Chinese chipmakers and investments, China’s regulatory crackdown on the tech sector, and the uncertain macro environment.
Additionally, China’s stringent COVID-19 lockdowns wreaked havoc on the output.
The U.S. considered banning chipmaking tools’ exports to Chinese factories manufacturing advanced semiconductors to impede China’s growing dominance.
Five of China’s largest state-owned companies declared plans to delist from U.S. exchanges.
Related: China’s Airlines Might Follow the Multibillion-Dollar Delisting From US Stock Markets
In February, China agreed to allow companies listed on one exchange to offer depository receipts in Switzerland, Germany, and Shenzhen.
The first wave saw four Chinese firms raise $1.5 billion in total via Swiss GDR sales in July, including offerings for battery makers GEM Co and Gotion High-Tech Co.
Alibaba Group Holding Limited BABA seeks to change its secondary listing status on the Main Board of the Hong Kong Stock Exchange to a primary listing.
Bernstein recently hinted at the possibility of Alibaba’s Hong Kong listing as its primary listing and the immediate likeliness of fintech affiliate Ant Group’s initial public offering.
Photo by mohamed hassan via Pxhere
Chinese Firms Flock To Switzerland Exchanges Amid U.S. And Domestic Crackdown & Latest News Update
Chinese Firms Flock To Switzerland Exchanges Amid U.S. And Domestic Crackdown & More Live News
All this news that I have made and shared for you people, you will like it very much and in it we keep bringing topics for you people like every time so that you keep getting news information like trending topics and you It is our goal to be able to get
all kinds of news without going through us so that we can reach you the latest and best news for free so that you can move ahead further by getting the information of that news together with you. Later on, we will continue
to give information about more today world news update types of latest news through posts on our website so that you always keep moving forward in that news and whatever kind of information will be there, it will definitely be conveyed to you people.
Chinese Firms Flock To Switzerland Exchanges Amid U.S. And Domestic Crackdown & More News Today
All this news that I have brought up to you or will be the most different and best news that you people are not going to get anywhere, along with the information Trending News, Breaking News, Health News, Science News, Sports News, Entertainment News, Technology News, Business News, World News of this made available to all of you so that you are always connected with the news, stay ahead in the matter and keep getting today news all types of news for free till today so that you can get the news by getting it. Always take two steps forward
Credit Goes To News Website – This Original Content Owner News Website . This Is Not My Content So If You Want To Read Original Content You Can Follow Below Links