A number of China’s biggest state-owned companies have announced plans to delist from U.S. stock exchanges after the Securities and Exchange Commission (SEC) warned that hundreds were at risk of getting kicked off for possible non-compliance with audit rules. In separate filings on the Hong Kong stock exchange where their shares are also listed, Aluminum…
Pepco Group Quarterly Revenue Rises on 161 Store Openings
Pepco Group, the owner of PEPCO, Poundland, and Dealz discount retailer brands in Europe, posted a 12 percent rise in its quarterly total revenue on a constant currency basis, driven by performance at its PEPCO banner that saw a 20 percent revenue jump. The group, which listed on the Warsaw stock exchange last May, said…
Russian Loans Company Arifmetika Plans Canada Listing in 2022
MOSCOW—Russia’s Arifmetika Financial Solutions, which provides small loans to individuals, plans to start trading in Canada in early 2022 and aims to raise about $100 million in the next 12-18 months, the head of its parent company OR Group said. The technical listing, which would allow the microfinance company to trade on the stock exchange…
China Publishes Rules for New Beijing Stock Exchange
SHANGHAI—China published a set of rules for the newly established Beijing Stock Exchange on Saturday, moving a step closer toward the official launch of the market. The exchange was set up last month in the Chinese capital, complementing two other bourses in the business hub of Shanghai and the southern city of Shenzhen. The rules,…
New Zealand Becomes First Country in the World to Pass Climate Change Disclosure Law
New Zealand has become the first country in the world to pass a law ensuring financial organizations disclose and act on climate-related risks and opportunities, the government announced on Thursday. The Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill passed its third reading with the goal of driving New Zealand’s push toward carbon neutrality by…
Salesforce Rival Freshworks Raises $1.03 Billion in US IPO, Valued at $10.13 Billion
NEW YORK—Business software firm Freshworks said it had priced its U.S. initial public offering well above the target range to raise $1.03 billion, valuing the Salesforce.com rival at $10.13 billion as hybrid work fuels demand for its products. Freshworks priced 28.5 million shares at $36 per share, the company backed by Accel and Sequoia Capital…
China to Start New Stock Exchange to Boost Small Business, Analysts Skeptical
A third stock market will be set up in Beijing to help small- and medium-sized companies raise capital, Chinese regime leader Xi Jinping announced Thursday. “We will continue to support the innovation and development of small- and medium-sized enterprises, deepen the reform of the New Third Board, set up a Beijing Stock Exchange to build…
China’s New Stock Exchange Plans Fuel Fears of a Bourse War
SHANGHAI—China’s plans to launch a new exchange in Beijing, announced by Chinese leader Xi Jinping on Thursday, boosted shares in Chinese brokerages, but knocked down Shenzhen start-up board ChiNext and shares of Hong Kong’s bourse, amid fears of rising competition. Although China’s securities regulator said the planned Beijing stock exchange is based on the city’s…
Exchange Repeatedly Halts Gamestop Trading as Price Surges Past $100
The New York Stock Exchange repeatedly halted trading in the stock of the video game retailer GameStop on Feb. 25 as its price surged above $100 per share in overnight trading. The stock has been favored by small investors who congregate on the Reddit forum r/Wallstreetbets. As of 10 a.m., the exchange blocked trading of…
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