SFC pulls lawsuit against StanChart, UBS

Hong Kong’s market watchdog has withdrawn a lawsuit filed against Standard Chartered and UBS over the 2009 IPO of China Forestry Holdings Co, although this does not mark the end of possible enforcement action, according to sources close to the matter.

  • By John Loh
  • 18 Oct 2017

The Securities and Futures Commission (SFC) named the two banks as defendants in a suit filed in the city’s High Court in January. KPMG, China Forestry and the issuer’s co-founders, Li Kwok Cheong and Li Han Chun, were also named in the suit.

StanChart and UBS were co-sponsors of ...

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1 Bank of China (BOC) 28.15
2 CITIC Securities 21.52
3 China CITIC Bank Corp 9.93
4 China Merchants Bank Co 9.38
5 Industrial and Commercial Bank of China (ICBC) 7.73

Bookrunners of Asia-Pac (ex-Japan) ECM

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1 UBS 14,054.18 85 5.94%
2 CITIC Securities 13,958.14 79 5.90%
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4 Morgan Stanley 10,221.90 54 4.32%
5 China Securities Co Ltd 9,861.82 46 4.17%

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1 HSBC 32,532.75 218 8.19%
2 Citi 30,602.78 186 7.70%
3 JPMorgan 23,972.21 138 6.03%
4 Bank of America Merrill Lynch 20,655.77 107 5.20%
5 Standard Chartered Bank 16,700.51 126 4.20%

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