Small Chinese companies want to pride themselves on being listed on the New York Tech Exchange.
(Photo: Reuters)
new York After noticeable jumps in stock market newcomers from China, the US stock exchange Nasdaq has stopped planned projects by four other companies from the People’s Republic. Securities expert Douglas Ellenoff told Reuters that he had been informed by Nasdaq that certain IPOs would not be allowed until it was clear what was behind the actions of some Chinese issuers earlier in the year. At that time, the prices of stock market newcomers had increased by up to 2000 percent on their debut and then lubricated again. It was about rather small IPOs (initial public offerings) with an issue value of 50 million dollars or less.
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