Despite trade tensions Chinese companies continue to file IPO's in the US
- 3 months ago
Despite the current trade war between the U.S. and China, there are more Chinese IPO’s in the States than the previous year.
A total of 37 Chinese companies have flocked to the U.S. and this year alone have raised a total of $9.2 billion, which dwarfs the previous year’s figure of $3.6 billion.
According to the Nasdaq Asia-Pacific chairman, Bob McCooney, "There are small groups of companies who will decide to list somewhere else besides the local markets here in Asia, and we vigorously pursue them and believe that they belong on Nasdaq."
The Nasdaq had 180 IPO’s this year and amongst the newcomers where China’s iQiyi, raising $2.3 billion and Pinduoduo, raising $1.6 billion.
McCooney also feels that the current trade tensions will eventually blow over and the current IPO market will continue to gain strength, "I'm not going to say that we'll do well over 180 next year. But it feels like, both from here as well as domestically, that the IPO market will continue to be very, very strong. The trade tensions, trade war will find a resolution. Whether in the short term or medium term, there will be one."
Source: Smart Trend Team