HK watchdog slaps $3m fine on CCBI for IPO role

By John Loh
09 Jul 2018

Hong Kong’s Securities and Futures Commission (SFC) has censured CCB International Capital for its role as the sponsor on Fujian Dongya Aquatic Products’ planned IPO.

The investment banking arm of China Construction Bank was fined HK$24m ($3m) because it failed to discharge its duties as the sole sponsor in the listing in 2013 and 2014, the regulator said in a statement on Monday.

The SFC’s investigation found CCBI failed to conduct all reasonable ...

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