ICI delisting ends bad month for US markets
NEW YORK - The role the Sarbanes-Oxley Act (Sox) is playing in driving firms away from public listings in the US has been thrown into the spotlight once again, after a bad month saw a wave of foreign firms flee the American capital markets.
British chemical company ICI announced on May 29 its intent to scrap its secondary exchange listing in the US, citing the cost of regulation as the key factor in its decision.
“It no longer makes sense from a cost and administrative perspective to submit to
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