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17min chapter
Blind Squirrel Macro: China Will Unleash “Bloodbath” On Global Automobile Market | Rupert Mitchell on Electric Vehicles, Tires, Refiners, And Gold
Forward Guidance
Navigating Chinese Stock Listings: From ADRs to Variable Interest Entities
The chapter explores the intricate world of Chinese company IPOs on Western stock exchanges, highlighting the evolution from simple 'friends and family transactions' to complex listings involving A shares and Red Ship companies. It delves into the financial structures of Chinese firms, particularly focusing on the use of variable interest entities (VIEs) in the Cayman Islands and the lack of ownership control for shareholders. The discussion also covers the nuances of A shares, H shares, and ADRs, using Alibaba and Tencent as examples, while reflecting on the current state of the Chinese equity market and potential future developments.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode