image credit: Pixabay

Two more Chinese tech companies are delisting from U.S. exchanges in on-going exodus

September 30, 2020

Via: Fortune

Two U.S.-listed Chinese Internet companies are delisting from New York exchanges and going private in multibillion dollar deals, joining a growing number of Chinese companies distancing themselves from U.S. exchanges as tensions flare between the U.S. and China.

Nasdaq-listed Sina Corporation, the owner of popular Chinese microblogging site Weibo, will go private in a $2.59 billion deal with Beijing-based New Wave Holdings, while web search company Sogou Inc. will go private in a $3.5 billion deal with Chinese tech giant Tencent Holdings. (Tencent is already a major Sogou shareholder.)

Read More on Fortune