Bloomberg Law
Aug. 8, 2017, 1:49 PM UTC

The U.S. Wants More IPOs. A Chinese Exchange Bid Will Test How Badly

Bloomberg Media

By Benjamin Bain and Annie Massa

As a former Wall Street deals lawyer, Jay Clayton has been clear that he wants to make it easier for companies to raise money through stock sales now that he runs the U.S. Securities and Exchange Commission.

But he may have hoped his first test of that goal wasn’t so politically fraught: It involves a Chinese conglomerate with little experience in the financial industry leading a group of investors who are vying to buy the Chicago Stock Exchange.

While the bidders’ objective is to transform the sleepy exchange into a destination for small companies to list ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.