PRC issuers step up US exodus

摘要

Several US-listed Chinese companies are planning to go private, a trend that is expected to provide big business for mainland banks as issuers restructure and look to relist closer to home. In the past month at least a dozen PRC companies have said they are considering delisting from a US bourse in what could be an exodus of tens of billions of dollars of market cap from the New York Stock Exchange and Nasdaq. Once delisted, these companies, including qihoo 360 technology, momo, wuxi pharma tech and renren, are expected to float on a mainland exchange through a backdoor listing or, less ideally, an IPO.