SEC temporarily halts approvals of new Chinese IPOs after Didi debacle
CNN
The Securities and Exchange Commission has told its staff to ask for more disclosures from Chinese companies seeking to go public in the United States before it will approve any plans for them to sell shares.
The announcement Friday, first reported by Reuters, shows regulators are taking a much more cautious stance on Chinese companies looking to sell shares in America following the disastrous meltdown of ridesharing giant Didi Global. Shortly after Didi went public on the New York Stock Exchange on June 30, Beijing cracked down on the company due to concerns about its cybersecurity practices.
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