Baidu Added to List of Stocks Facing Delisting in U.S.
(Bloomberg) — The U.S. Securities and Exchange Commission added Baidu Inc. Wednesday to a growing list of Chinese companies that may get kicked off American stock exchanges because of Beijing’s refusal to permit U.S. officials to review their auditors’ work.
The SEC’s publication of the businesses’ names is required under a 2020 U.S. law that started a three-year clock for businesses to comply with inspection requirements covering all public companies in the U.S. The SEC also added Futu Holdings Ltd., Nocera Inc., iQiyi Inc. and CASI Pharmaceuticals Inc. to its provisional list for possible delisting.
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