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SFC, HKEX Send Letter to Sponsors Concerning IPO Application Quality
Recommend 5 Positive 11 Negative 4 |
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The Hong Kong Securities and Futures Commission (SFC) and HKEX (00388.HK) have sent a letter to IPO sponsors expressing regulatory concerns over the recent decline in the quality of IPO applications and certain non-compliant behaviors observed, Bloomberg reported. At the moment, Hong Kong's IPO fundraising is over USD34 billion, expected to notch a four-year high. According to HKEX statistics, about 300 companies are awaiting listing. An SFC spokesperson said that the SFC has jointly sent letters with HKEX to several IPO sponsors, underscoring their continued welcome of quality companies listing in Hong Kong and supporting a vibrant capital market ecosystem. The SFC will continue to work closely with HKEX to maintain the quality and standards of IPO applications in Hong Kong. Separately, an HKEX spokesperson confirmed the letter. AASTOCKS Financial News Website: www.aastocks.com |
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