Attention is focusing on whether Chinese companies will resume listing on the U.S. stock market as Chinese securities regulators have decided to allow a local company to be listed on the NYSE.
Chinese Securities and Supervisory Commission has virtually approved the listing of “ZKH,” an industrial product e-commerce platform company, in the U.S. stock market nYSE.
According to the media, the Board of Audit and Inspection recently responded to ZKH’s IPO in a video conference with some Chinese companies listed in the U.S.
Chinese media evaluated, “This is a measure to provide bias to IPOs of companies that meet the conditions following the decision of the Financial Stability Committee meeting on the 16th.”
At the time, the Financial Stability Committee said at a meeting presided over by Deputy Prime Minister Liu He, “Good communication is currently underway between the two supervisory bodies and active progress has already been made on the issue of U.S.-listed Chinese stocks.”
Founded in 1998, Shanghai-based ZKH is supported by Alibaba and Tencent. The company refers to itself as “Amazon in the area of industrial maintenance products.”
The company aims to raise $300 million to $500 million through IPO in the U.S. stock market.
Meanwhile, attention is being paid to whether Chinese companies, which have not been listed for more than eight months due to China’s regulatory pressure, will resume listing on the NYSE.
Despite opposition from authorities, Didi Chuxing, China’s largest car-sharing service provider, was listed on the New York Stock Exchange on June 30 last year and raised $4.4 billion. However, under strong pressure from the Chinese authorities, Didi Chuxing eventually declared its delisting on December 3 last year.
