Nasdaq is effectively all but blocking small overseas firms from going public on its platform, with Chinese companies particularly impacted. With the U.S. trade war raging, the bourse risks looking like it’s currying favor, writes jennifersaba.
New listing rules and closer scrutiny of foreign firms by Nasdaq are preventing some small Chinese companies from listing on the U.S. exchange, Reuters reported on Sept. 29.
Nasdaq in August enacted a set of rule changes that raised the average trading volume requirements for a stock and required at least 50% of a company’s shareholders to invest a minimum of $2,500 each in an initial public offering. Additionally, the exchange said it could delay the listing of a company that does not demonstrate a strong enough nexus to the U.S. capital markets, such as having no shareholders, operations, management or board members in the Unites States.
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