Since Chinese companies listed on the U.S. stock exchange face increasing pressure of being delisted, some are now considering listing on the SIX Swiss Exchange through Global Depository Receipts (GDR), bank certificates listing shares in two or more countries. Two Chinese manufacturing giants, Sany Heavy Industry and Lepu Medical Technology, have recently announced plans to list on the Swiss Exchange. “The decision would broaden international financing channels and advance our company’s international business development,” the two companies stated. Following their statements, Chinese battery manufacturer, Gotion High-tech, also announced plans on March 17 to use the SIX Swiss Exchange through GDR. None of the three companies disclosed financial information details or listing dates, saying details were still pending approval by their boards of directors and regulatory authorities before actual implementation. In response to their announcements, Jürg Schneider, SIX Swiss Exchange spokesperson, told the AWP Financial News that “everything is ready” on …
Chinese Industrial Giants to List in Switzerland as Chinese Stocks Face Delisting Pressure in US
March 24, 2022
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ChinaChina Business & EconomyChinese Regimedelisting chinese companiesGlobal Depository ReceiptsSIX Swiss Exchange.`
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