These 3 U.S.-Listed Chinese Stocks Are Filing Hong Kong IPOs
The U.S. Senate recently passed a bill that could force Chinese companies to delist their stocks from American exchanges. If the bill becomes a law, Chinese companies would need to prove they aren't owned by the Chinese government and open their books to the non-profit Public Company Accounting Oversight Board (PCAOB).
The bill still needs to be approved by the House of Representatives and signed into law by President Trump, but it enjoys broad bipartisan support. Therefore, it isn't surprising that several major Chinese tech companies -- including Alibaba (NYSE: BABA), JD.com (NASDAQ: JD), and NetEase (NASDAQ: NTES) -- all recently filed new IPOs in Hong Kong.
Let's examine these three companies' moves into Hong Kong, and whether or not American investors should avoid their U.S.-listed shares.
Source Fool.com
