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☆ Hong Kong is too important for China to ignore, Marcum Asia says
  + stars: | 2024-02-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHong Kong is too important for China to ignore, Marcum Asia saysDrew Bernstein, co-founder and co-chairman of the accounting firm, says Hong Kong has a "deep talent pool" and is a market for companies that want global exposure.
Persons: Drew Bernstein Organizations: Hong, Marcum Locations: Hong Kong, China, Marcum Asia
☆ China launches a security review of Shein. Here's what it means for its IPO
  + stars: | 2024-01-17 | by ( Gabrielle Fonrouge Deirdre Bosa | Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com   time to read: +3 min
China's powerful internet regulator is conducting a security review of Shein as the fast-fashion giant gears up for its highly anticipated U.S. initial public offering, CNBC has learned. The review focuses on how Shein handles information about its employees, partners and suppliers in the region, The Wall Street Journal reported. In 2021, Beijing launched a similar security review of ride-hailing giant Didi Global just days after it went public on the New York Stock Exchange and raised some $4.4 billion. Following Didi's downfall, all Chinese companies seeking an overseas IPO are now subject to a security review and government approval in China. If the reviews turn up information that doesn't sit well with Chinese regulators, they could squash the deal.
Persons: confidentially, Shein, Drew Bernstein, Didi Global, Didi, Bernstein, they're Organizations: CNBC, Cyberspace Administration, China, Street Journal, CAC, Washington , D.C, Marcum, New York Stock Exchange, CNBC PRO Locations: U.S, China, Washington ,, Beijing, Marcum Asia, Singapore
☆ Vietnamese companies eye the U.S. IPO market amid a lull in Chinese listings
  + stars: | 2023-12-06 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +5 min
While not strictly an IPO, the listing was soon followed by Vietnamese tech unicorn VNG's filing to list on the Nasdaq. As local companies grow, "they are outgrowing the ability of those markets to provide the capital that they need," said Drew Bernstein, co-chairman of accounting firm MarcumAsia. Since the fallout over Didi in the summer of 2021, regulation and a tepid U.S. IPO market have stalled most Chinese listing plans. She said given the success of Southeast Asian ride-hailing company Grab , more Vietnamese companies are starting to look beyond the domestic market to regional business. George Chan, global IPO leader at EY, expects "a lot" of companies from Southeast Asia will reach the IPO stage in the next 12 to 18 months, and might also consider the Hong Kong exchange.
Persons: Scott Mlyn, VinFast, Johan Annell, VNG, Drew Bernstein, It's, Bernstein, who'd he'd, Didi, Gary Dvorchak, Blueshirt, Nguyen Nguyen, Vu Van, ELSA, Van, George Chan Organizations: New York Auto Show, CNBC BEIJING, U.S, Spade, Nasdaq, ARC Group, China -, Renaissance Capital, Investor, CNBC, World Bank, Southeast Asia — Locations: Asia, U.S, Vietnam, Beijing, Cayman Islands, Malaysia, China, China - U.S, Thailand, Indonesia, Singapore, Southeast Asia, Hong Kong
☆ U.S. regulator warns of pump-and-dump IPOs, many from China
  + stars: | 2022-11-17 | by ( Echo Wang | ) www.reuters.com   time to read: +1 min
NEW YORK, Nov 17 (Reuters) - The U.S. Financial Industry Regulatory Authority (FINRA) warned on Thursday it was seeing a number of small initial public offerings (IPOs), including many from China, which constituted pump-and-dump schemes that investors should stay away from. Most of these initial public offerings raise less than $25 million for companies worth less than $100 million, FINRA said. FINRA said criminals also try to entice people to invest in these IPOs through texting or social media. Nasdaq and the New York Stock Exchange said separately on Thursday that would scrutinize small-cap IPOs more. "You're dealing with market manipulations, small companies, small float, so they got to figure out what happened," said Drew Bernstein, co-chairman of Marcum Bernstein & Pinchuk, a China-focused accounting firm.
☆ Chinese firms embrace Swiss listings as deal pipeline swells
  + stars: | 2022-11-14 | by ( Samuel Shen Scott Murdoch | Samuel Shen | Scott Murdoch | ) www.reuters.com   time to read: +4 min
More than a dozen Chinese companies have unveiled plans to follow suit, according to exchange filings. The China-Switzerland Connect allows Chinese companies to raise capital by issuing and listing GDRs on Swiss bourse SIX. Swiss firms can issue Chinese Depository Receipts on the Chinese exchanges. She said UBS is also discussing with Chinese firms about listing in Frankfurt once rules are in place, so "our GDR mandates will keep coming". Despite the brighter prospects, deal sizes have been comparatively small, with Gotion's $685 million Swiss listing the biggest so far under the Swiss connect scheme.
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