Tencent Music executive says ‘premature’ to speculate over U.S. delisting

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August 11, 2020

Tencent Music said on Tuesday that it was “premature” to speculate over a potential delisting, in response to a question on whether it had a plan to react to a recommendation from the Trump administration over auditing U.S.listed Chinese firms.

Reuters

Last Updated: August 11, 2020, 6:30 AM IST

HONG KONG/SHANGHAI Tencent Music said on Tuesday that it was “premature” to speculate over a potential delisting, in response to a question on whether it had a plan to react to a recommendation from the Trump administration over auditing U.S.-listed Chinese firms.

The company’s Chief Strategy Officer Tony Yip made the comments during an analyst briefing after its quarterly results.

U.S. Treasury Secretary Steven Mnuchin said on Monday companies from China and other countries that do not comply with accounting standards will be delisted from U.S. stock exchanges as of the end of 2021.

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Yip said delisting was not the only option for firms. For example, they could choose to be co-audited by American auditors, he said.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Tencent Music executive says ‘premature’ to speculate over U.S. delisting

Tencent Music said on Tuesday that it was “premature” to speculate over a potential delisting, in response to a question on whether it had a plan to react to a recommendation from the Trump administration over auditing U.S.listed Chinese firms.

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