Bankers Urge China IPOs to Shun NYSE for HK After Didi Saga: FT

(AF) Beijing’s clampdown on Didi Chuxing after its listing in the US has prompted backers of New York IPOs by Chinese firms to redirect them to Hong Kong instead, the Financial Times reported.

Hong Kong’s stock exchange is exempt from some of the most stringent Chinese rules on overseas listings and is considered a good alternative to avoid similar post-sale interventions for the $1.4 billion of IPOs planned by about 20 firms, the report added. Full story: Financial Times.

Mark McCord

Mark McCord is a financial journalist with more than three decades experience writing and editing at global news wires including Bloomberg and AFP, as well as daily newspapers in Hong Kong, Sydney and Melbourne. He has covered some of the biggest breaking news events in recent years including the Enron scandal, the New York terrorist attacks and the Iraq War. He is based in the UK. You can tweet to Mark at @MarkMcC64371550.