Chinese Property Agency, Facing US Delisting Threat Alongside JD, Nio, Gets A Breather In Hong Kong

Tencent Holdings TCEHY-backed Chinese property agency KE Holdings BEKE has received a regulatory nod for a dual-primary listing in Hong Kong, as it faces a possible delisting from U.S. exchanges. 

What Happened: KE Holdings is among a recently-updated list of 86 Chinese companies — including JD.com Inc. JD and Nio Inc. NIO — of U.S. Securities and Exchange Commission that face the risk of delisting amid a long-running auditing standoff between the United States and China. 

In a statement, the company said, it has received the go-ahead from the local stock exchange to list its Class A ordinary shares on the main board by way of introduction. The stock will start trading on May 11. 

The operator of housing platforms Beike Zhaofang and Lianjia has joined a slew of companies that are eying Hong Kong for dual listing amid the uncertain environment in the U.S. for the Chinese-listed companies. Recently, Nasdaq-listed short video platform Bilibili Inc BILI announced that it would convert its secondary listing status in Hong Kong into a dual-primary listing by Oct. 3.

Price Action: According to data from Benzinga Pro, KE Holdings shares closed 0.55% lower on Wednesday in the U.S. market.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: AsiaNewsMarketsTechChinese stocksDelisting Risk
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...