We provide measures of both the cross-listings and delistings by foreign companies in the U.S.
Measure 8 – Cross-Listings in the U.S. by Foreign Companies
When a foreign company lists in the U.S. through an IPO or a secondary offering, one of its objectives is to raise capital. Of course, it may have other objectives, such as bonding to U.S. standards or acquiring U.S. “currency” for a stock acquisition. When a foreign company cross-lists in the U.S. without raising capital, bonding likely has a larger role. Therefore, the number of cross-listings by foreign companies reflects the perceived value of a U.S. public listing. The data shows the number of cross-listings—restricted to non-capital raising events—in the U.S. since 2000.
Measure 9 – Delistings by Foreign Companies
The data shows the number of delistings by foreign companies from the New York Stock Exchange. In addition, the data shows the delisting rates (as a percentage of total listed companies) of foreign and domestic companies for the same period.