The 20th anniversary celebrations of mainland Chinese companies listing in Hong Kong, marked in July, look set to be dampened by fresh allegations.
US research group Glaucus says it is preparing to disclose corporate governance failings by mainland Chinese companies listed in Hong Kong as well as Singapore and seek to profit from a subsequent drop in their share prices.
Glaucus is best known for uncovering widespread fraud at China Metal Recycling Holdings. The California-headquartered research boutique’s report resulted in Hong Kong’s financial watchdog suspending trading in the scrap metal merchant’s shares in January and the start of liquidation proceedings in July.
Meanwhile,...
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