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The US SEC adds Alibaba to the list of Chinese companies at risk of delisting

July 30, 2022
Source: nasdaqnewsupdates.com nasdaqnewsupdates.com
News Snapshot:
July 29 (Reuters) – Alibaba Group Holdings Ltd. (9988.HK)is among a list of Chinese companies that could face delisting, the U.S. Securities and Exchange Commission said on Friday, sending the e-commerce giant’s shares down nearly 9% in midday trading. Alibaba is among more than 270 Chinese companies listed in New York identified as at risk of delisting under the Foreign Holding Company Accountability Act (HFCAA), which aims to address a long-running dispute over audit compliance for Chinese companies listed in the United States. US regulators are demanding full access to audit working papers of Chinese companies listed in New York,...
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