Asian ADR issuers aren't afraid of Sox.
Sarbanes-Oxley may be a cloud hanging over a lot of foreign issuers on US exchanges, but Asia seems hardly to have noticed. Sox certainly didn’t deter the ten Chinese tech stocks that listed American depositary receipts (ADRs) on Nasdaq in the year to September, or the dozen or so still in the pipeline. Section 404 didn’t scare off one of the largest ever venture cap-backed IPOs, Shanghai chip maker SMIC, which last year dual-listed in Hong Kong and on the NYSE, raising $1.8 bn
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