U.S.-listed Chinese companies are rushing to Hong Kong even if the market isn’t amenable to new stock offerings
An alternative way to go public has gained traction in Hong Kong this year, as Chinese companies move to head off the threat of a potential U.S. delisting, while market turmoil makes it hard to raise new funds at attractive prices.
Shares in NIO Inc. began trading Thursday in Hong Kong, after the Chinese electric-vehicle maker concluded the city’s first listing by introduction since late 2020. Listings by introduction are a way of joining the public markets in which a company doesn’t raise any capital or issue any new shares.
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