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The operator's press release states that the adjustments stemmed from an assessment of trading behavior, which included instances of intentional manipulation aimed at increasing the share prices of smaller firms.
The minimum volume of shares exchanged in the market will rise to $15 million from the present $5 million. Simultaneously, for businesses from China, the minimum share placement volume will be $25 million.
At present, more than 100 Chinese firms are listed on US stock exchanges, such as tech giants Alibaba, JD.com, and Baidu. The total market value of both is approximately $1 trillion.
The procedure for suspending or ending listings for firms with a free float under $5 million will also be expedited.
According to a statement from the exchange operator, the proposed rules have been sent to the Securities and Exchange Commission (SEC) for evaluation and will take effect soon if they receive approval.
source: bloomberg.com
The minimum volume of shares exchanged in the market will rise to $15 million from the present $5 million. Simultaneously, for businesses from China, the minimum share placement volume will be $25 million.
At present, more than 100 Chinese firms are listed on US stock exchanges, such as tech giants Alibaba, JD.com, and Baidu. The total market value of both is approximately $1 trillion.
The procedure for suspending or ending listings for firms with a free float under $5 million will also be expedited.
According to a statement from the exchange operator, the proposed rules have been sent to the Securities and Exchange Commission (SEC) for evaluation and will take effect soon if they receive approval.
source: bloomberg.com
