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Hong Kong Lures New York IPOs After China Auditors Ban

The U.S. ban on Chinese affiliates of the four biggest accounting firms stands to undermine a pickup in initial share sales by Chinese companies in New York.

While the auditors said they’ll appeal the six-month ban imposed by a U.S. judge, the ruling will probably push Chinese companies to opt for a listing in Hong Kong instead of New York, said Bruno del Ama, chief executive officer of Global X Funds.