It may have listings in Hong Kong and Shanghai, but cancer drug maker BeiGene Ltd. (BGNE.US; 6160.HK; 668235.SH) is making it clear it wants to keep its original listing in the U.S. that is currently under threat due to U.S.-China tensions.
That’s the key message coming from the company’s newly disclosed change of auditors. That change has seen BeiGene drop its previous accountant, China-based Ernst & Young Hua Ming LLP, for U.S.-based Ernst & Young, Chinese financial publication Caixin is reporting.
The report notes the change will only apply to BeiGene’s U.S.-listed shares. BeiGene notched a major milestone late last year when it listed on Shanghai’s Nasdaq-style STAR Market, becoming the first company to have concurrent listings in New York, Hong Kong and on one of the Chinese mainland’s A-share markets. Presumably E&Y Hua Ming – which is Ernest & Young’s China affiliate – will remain as BeiGene’s auditor for its Hong Kong and STAR Market listings.