- Copper Prices at the Peak of 10 years
- U.S. to Provide Covid-19 Aid to India
- Chinese Companies Listed in the U.S. at Record Speed
Copper Prices at the Peak of 10 years
Copper Prices at the Peak of 10 years
Technology Inc, followed by the US $947 million offerings of software company Tuya Inc.
The U.S. Securities and Exchange Commission (SEC) announced last month that a law would be introduced that forces supervisors to allow U.S. authorities to review the financial controls of foreign companies, and it was stated that companies could be removed from the stock market if financial control is not allowed.
This poses a high risk to Chinese firms, as China has long not allowed U.S. regulators to review audits of foreign companies traded on the U.S. stock exchange over national security concerns.
“They would acknowledge this is a potential risk, and if something happens, they might need to get prepared for a rainy day,” said Stephanie Tang, head of private equity for Greater China at law firm Hogan Lovells. “But the risk itself would not prohibit those companies from going to the U.S., at least in the second half of this year or probably towards next year.”
Despite all the risks, public offerings continue on U.S. stock exchanges, and IPOs are expected to exceed last year in 2021. Chinese companies raised $15 billion in U.S. public offerings in 2020, the highest level after 2014 when Alibaba broke a record of $25 billion.
Besides, the largest IPO in China this year is expected to be in renewable energy. The Chinese Three Gorges Renewables Group may hold its biggest IPO this year after obtaining regulatory approval.
U.S. to Provide Covid-19 Aid to India
U.S. to Provide Covid-19 Aid to India
More than 314 thousand cases detected in the last 24 hours in India, one of the countries most affected by the Covid-19 outbreak, have been recorded as the highest daily number of cases ever seen worldwide in the Covid-19 outbreak.
U.S. President Joe Biden and Vice President Kamala Harris have assured India and its people of providing all assistance, including urgently sending necessary medical life-saving supplies and equipment, to help the country combat the deadly coronavirus crisis.
“Just as India sent assistance to the United States as our hospitals were strained early in the pandemic, we are determined to help India in its time of need,” Joe Biden said in a tweet.
“The U.S. is working closely with the Indian government to rapidly deploy additional support and supplies during an alarming Covid-19 outbreak. As we provide assistance, we pray for the people of India -including its courageous healthcare workers,” Kamala Harris said in a tweet.
The White House says it has identified raw material sources urgently needed for India’s manufacture of the ”Covishield” vaccine and will make that available.
The U.S. also intends to pay for an expansion of manufacturing capability for the vaccine manufacturer in India, to ramp up and produce at least 1 billion doses of Covid-19 vaccines by the end of 2022.
While the USA ranks first globally in the number of cases and deaths in the epidemic, India ranks second with more than 16 million 960 thousand cases.
In India, the second country with the number of Covid-19 cases increasing rapidly and with the highest number of cases per day, the number of deaths has exceeded 192 thousand.
Chinese Companies Listed in the U.S. at Record Speed
Chinese Companies Listed in the U.S. at Record Speed
Chinese companies are listed at the fastest speed ever seen in the U.S., ignoring the tensions between the world’s two largest economies and the risk of being expelled from American stock markets.
Chinese and Hong Kong firms raised $6.6 billion in initial public offerings in the U.S. this year, an 8-fold increase compared to last year.
The largest IPO is the US$1.6 billion listings of e-cigarette maker RLX Technology Inc, followed by the US$947 million offerings of software company Tuya Inc.
The U.S. Securities and Exchange Commission (SEC) announced last month that a law would be introduced that forces supervisors to allow U.S. authorities to review the financial controls of foreign companies, and it was stated that companies could be removed from the stock market if financial control is not allowed.
This poses a high risk to Chinese firms, as China has long not allowed U.S. regulators to review audits of foreign companies traded on the U.S. stock exchange over national security concerns.
“They would acknowledge this is a potential risk, and if something happens, they might need to get prepared for a rainy day,” said Stephanie Tang, head of private equity for Greater China at law firm Hogan Lovells. “But the risk itself would not prohibit those companies from going to the U.S., at least in the second half of this year or probably towards next year.”
Despite all the risks, public offerings continue on U.S. stock exchanges, and IPOs are expected to exceed last year in 2021. Chinese companies raised $15 billion in U.S. public offerings in 2020, the highest level after 2014 when Alibaba broke a record of $25 billion.
Besides, the largest IPO in China this year is expected to be in renewable energy. The Chinese Three Gorges Renewables Group may hold its biggest IPO this year after obtaining regulatory approval.
