Alibaba Added to SEC List of Chinese Firms Facing Delisting
- Company among latest of almost 200 firms that face threat
- Shares extended declines in trading after SEC announcement
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Alibaba Group Holding Ltd. has moved a step closer toward getting booted off US stock exchanges for American inspectors not being able to access to financial audits.
The US Securities and Exchange Commission on Friday added the largest US-listed Chinese company to a growing roster of firms that face removal because of Beijing’s refusal to permit American officials to review their auditors’ work. The publication of the businesses’ names, which was required by a 2020 law, starts a three-year clock to a final delisting.