China's Zhihu plunges in HK debut on U.S. regulatory concerns
22/04/2022 05:53
** Shares of Zhihu Inc 2390.HK drop as much as HK$23.45,
down 26.9% from their offering price of HK$32.06 apiece, as the
Chinese question-and-answer website debuted its primary dual
listing on the Hong Kong Stock Exchange
** Zhihu, similar to U.S. knowledge-sharing website Quora
Inc, sold 26 mln secondary shares in the deal to become the
latest U.S.-listed Chinese co to press ahead with a listing
closer to its home market, raising $106 mln urn:newsml:reuters.com:*:nL2N2WC05G
** The U.S. Securities Exchange Commission on Thursday added
17 firms, including Zhihu ZH.N 2390.HK , to the latest batch
of stocks potentially facing delisting in the United States for
not giving access to their audited accounts urn:newsml:reuters.com:*:nL2N2WK033
** China's securities watchdog is holding regular talks with
U.S. regulators over audit cooperation and expects a deal soon,
a Chinese regulatory official said on Thursday about a dispute
that could lead to delistings of U.S.-listed Chinese companies
urn:newsml:reuters.com:*:nL2N2WJ12V
** Zhihu's New York-listed shares ZH.N were up 0.6% on
Thursday, but still down 70% in 2022
** Hang Seng Tech Index .HSTECH falls 0.9% and Hang Seng
Index .HSI slips 0.6%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))