A United States accounting oversight board proposed a draft rule to advance the implementation of legislation to remove foreign firms, from the US stock exchang
Washington DC [US], May 16 (ANI): A United States accounting oversight board proposed a draft rule to advance the implementation of legislation to remove foreign firms, from the US stock exchange that did not comply with American accounting standards.
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Plant-Milk Maker Oatly Aims for $1.6 Billion Nasdaq Listing, Though Chinese Backing Could Prove a Problem
Oatly plans to further expand its business in China, its biggest Asian market, according to the prospectus. Photo: Oatly
Major plant-based milk-alternative maker Oatly Group AB has spelled out its IPO pricing, though questions remain about whether its ties with a Chinese state-owned backer could affect its Nasdaq listing.
The Swedish company expects to raise up to $1.65 billion with an offering price of between $15 to $17 per American depositary share, it said in its updated
prospectus on Tuesday. That would give it a $10 billion valuation.
As of March 31, conglomerate China Resources (Holdings) Co. Ltd. and Belgium-incorporated Verlinvest S.A. jointly hold 55.9% of Oatly through the 50-50 joint venture Nativus Co. Ltd., according to the filing.
PCAOB proposes new rule for inspecting foreign audit firms accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.