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China to Prohibit Foreign IPOs

December 2, 2021
Source: pymnts.com pymnts.com
News Snapshot:
China intends to remove a technicality that permitted the country’s tech sector from raising overseas investments by prohibiting companies from making an initial public offering (IPO) on foreign stock markets through variable interest entities, according to a Wednesday (Dec. 1) Bloomberg report. The potential ban is part of a new version of China’s overseas listing rules, which could be formalized later this month. The China Securities Regulatory Commission (CSRC) first moved toward barring technology firms from listing on foreign markets in August, according to PYMNTS. At the time, the CSRC intended to establish the new regulations near the fourth quarter...
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