Nasdaq plans to toughen rules that could make it harder for Chinese companies to list on its exchange: report - MarketWatch

Nasdaq Inc. [: NDAQ] plans to impose stricter regulation that may make it harder for some Chinese companies to list on its platform, Reuters reported late Monday. Among the new rules, Nasdaq would require companies from some countries to raise $25 million in their initial public offering or 25% of the value of the company's market capitalization after it makes a public debut, Reuters reported. Nasdaq isn't expected to indicate that the new rules are directed at China-based entities. The Reuters report comes after Luckin Coffee Inc. LK, -18.40%, China's largest coffee chain and a competitor to Starbucks Corp. SBUX, +2.79%, last month disclosed that employees fabricated 2019 sales. Luckin made its debut on Nasdaq and its trading on the exchange has been suspended. Issues with Luckin have raised broad concerns about the safety of a number of Chinese companies.

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2020-05-19 04:04:00Z
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