Boustead's Dan McClory on CGTN: China’s ‘IPO Exports’
Boustead Securities, LLC’s Dan McClory, Managing Director and Head of China & Equity Capital Markets, recently spoke to CGTN's Roee Ruttenberg about the latest in U.S.-China trade talks live on Chinese TV.
McClory began by discussing reduced pork import tariffs amid rising prices, how current tariffs impact Beijing, the three significant issues for the U.S., and in a breaking story, how China is actually exporting financial services such as Initial Public Offerings of PRC companies, to the U.S.
Around the 3:30 minute mark on the television interview broadcast live on China’s CCTV’s international channel CGTN, McClory points out how "Chinese ‘IPO Exports’ have accounted for 25% of all new listings on Nasdaq and the NYSE in 2019." Of the 159 total U.S. IPOs on Nasdaq and the New York Stock Exchange in 2019, 42 were from Chinese companies, with some $4 billion of capital raised, according to Weitian Group, LLC.
Watch the interview here: