jaanaki Aunty Puku

Cross-border listings play an increasingly important and valuable role for companies and investors in an ever-more-global economy—and they do promote the mobility of capital, competition between exchanges, and greater strategic flexibility for companies. But if they are picking up again, understanding the episode and its lessons is important for both executives and investors if we are to avoid a repeat.
The story behind the story
Many observers at the time viewed the massive loss of value as a simple story: the companies never should have listed in the United States in the first place, and investors were drunk on China’s vigorous growth during the early years of the new millennium.