Clampdown still on, China prepares for return of IPOs

By Rashmi Kumar
27 Jun 2013

Chinese securities firms are on red alert after Everbright Securities confirmed in a statement on the Shanghai Stock Exchange last week that it was being investigated by regulators for possible malpractice over Henan Tianfon Energy-Saving Panel Science & Technology Co’s planned IPO.

Last month, Ping An Securities was fined Rmb76.5m ($12.3m) and its underwriting business was suspended for three months. The China Securities Regulatory Commission concluded that the company had failed to spot falsified books submitted by Wanfu Biotechnology, the company whose listing Ping An Securities helped arrange on the ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial