News Snapshot:
ANKARA The US Securities and Exchange Commission (SEC) said on Friday it will require Chinese companies to disclose additional information if they want to list on US stock exchanges in initial public offerings (IPOs). “In light of the recent developments in China… I have asked staff to seek certain disclosures from offshore issuers associated with China-based operating companies before their registration statements will be declared effective,” SEC head Gary Gensler said in a statement. “I worry that average investors may not realize that they hold stock in a shell company rather than a China-based operating company.” The US market watchdog...
