Sina is planning for the delist in the US
Posted On July 6, 2020
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Sina might be acquired by an offshore company owned by its chairman and CEO Charles Chao at a price of $41 per share with a privatization aim so as to delist from the New York Stock Exchange. A number of US-listed Chinese tech firms are joining the delisting wave amid the escalating tension between China and the US along with the anticipated stringent audit records requested by US markets to avoid financial fraud.