JD.com, NIO and Other Stocks Decline as SEC Expands List Related to HFCAA
May 05 2022 - 1:37PM
Dow Jones News
By Josh Beckerman
Shares of many Chinese companies declined Thursday after the
Securities and Exchange Commission expanded the list of companies
facing potential delisting under the audit inspection requirements
of the Holding Foreign Companies Accountable Act.
The decliners included several businesses previously added to
the list, such as iQIYI Inc., whose American depositary receipts
were down 13% to $3.38.
New names on the list include Pinduoduo Inc., which fell 11% to
$40.33, JD.com Inc., which declined 6% to $59.42, and NIO Inc.,
which was down 15% to $15.46.
JD.com said it has been actively exploring possible solutions,
and would strive to maintain listing status on both Nasdaq and the
Hong Kong Stock Exchange. Other companies also said they are
exploring solutions and seeking to maintain their listings.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
May 05, 2022 13:22 ET (17:22 GMT)
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