Hong Kong’s market watchdog and stock exchange admonished investment banks working on initial public offerings over filing shoddy and incomplete applications as first-time share sales surge in the Asian financial hub.
“We are writing to express our regulatory concern over the declining quality of, and certain substandard behavior observed in, recent new listing applications,” according to a letter sent to IPO sponsors and signed by officials from the
Officials are raising their grievances against the backdrop of a blistering recovery in Hong Kong listings, which have raised more ...
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