Chinese stocks
With Chinese stocks among the world's hottest investment plays, there is a frantic struggle between European and US investment banks to structure deals that feed a hungry global investment community.
In this climate one of the most important arenas of competition is whether a Chinese company needs to have an ADR to attract American pools of capital. The rule of thumb is that any IPO over $250 mn needs an ADR due to the size factor. But this theory is being tested by many non-American investment
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