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Shanghai Zai Lab Raises Hong Kong Listing to Primary Status

publication date: Jun 28, 2022

Shanghai Zai Lab has changed its Hong Kong listing from secondary listing status to primary listing. Zai says it now has dual-primary status in the US and Hong Kong. Zai is one of many China biopharmas that faces de-listing from a US exchange because of its financial auditor: China does not allow domestic companies to open their financial records to foreign auditors, but the US has will de-list any China company that does not allow US-certified auditors complete access to its financial data. A few months ago, China said it would change its rules, but so far no formal agreement has been announced. Zai seems to be taking the first protective steps against the US de-listing. More details....

Stock Symbol: (NSDQ: ZLAB; HK: 9688)

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