Nasdaq has said it will tighten listing rules and trading standards for small stocks as it seeks to combat a spate of suspected “pump and dump” scams involving Chinese companies listed in the US.
The stock exchange on Wednesday said it would introduce an “accelerated process” for suspending and delisting small stocks that fail to meet its standards. It will also modify minimum public float requirements “specifically for companies principally operating in China”.
The announcement follows an internal review of suspected pump and dumps, where people with a vested interest artificially inflate a company’s share price before abruptly selling their own holdings.
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