U.S.-listed Chinese companies drop plans to list in Hong Kong - report
Nikada

Prominent U.S.-listed Chinese companies, including Pinduoduo (NASDAQ:PDD) and Full Truck Alliance (NYSE:YMM), are scrapping plans for a potential listing of their shares in Hong Kong, The Information reported citing people familiar with the matter.
The companies reportedly feel that that they no longer need to hedge against future regulatory conflicts between China and the U.S.
The news comes after an report earlier in December which noted that the U.S. accounting watchdog Public Company Accounting Oversight Board said it had full access to inspect and probe firms in China for the first time ever, brushing aside the risk that about 200 China-based companies could be removed from U.S. stock exchanges amid tough relations between the two countries.
Nasdaq-listed Chinese e-commerce company Pinduoduo, which has a market capitalization of ~$102.9B, has placed discussions on hold linked to a potential listing in Hong Kong. Meanwhile, NYSE-listed digital freight platform provider Full Truck had dropped its plans earlier this month for a potential Hong Kong listing which could have taken place in January, the report added, citing people familiar with the matter.
Companies, including Alibaba (BABA) and JD.com (JD) have moved to also list in Hong Kong over the years to hedge the risk of potential delisting in the U.S.