Regulators in both countries have increased clarification this month what’s needed from Chinese companies to go public in the U.S.
The new rules for overseas listings did lay out specific requirements for filing documents, and said the securities commission would respond to filing requests within 20 working days of receiving all materials, according to a draft.as some had feared.
The structure creates a listing through a shell company, often based in the Cayman Islands, preventing investors in the U.S.-listed stock from having majority voting rights. "If complying with domestic laws and regulations, companies with VIE structure are eligible to list overseas after filing with the CSRC," the commission said in anHowever, the amount of foreign investment allowed in Chinese VIEs will likely be reduced to match that of mainland China's A shares, said Bruce Pang, head of macro and strategy research at China Renaissance.
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