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GigaCloud joined 11 other companies, excluding blank-check firms, based in China and Hong Kong that opted to sell shares in New York this year even as a spat between US and China over financial audits increases the risk of delistings. Sharp swings in share prices on some of the trading debuts have also grabbed regulator’s attention. In two recent examples, AMTD Digital Inc. soared more than 32,000% following its IPO in July, while Magic Empire Global Ltd. saw a 2,325% spike in its debut session earlier this month.
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