China’s securities regulator, emboldened under its tough new leader, is clamping down on IPO sponsors in the country. That might ruffle a few feathers but local market participants think it is necessary.
Investors have 21 less IPOs to expect in China’s A-share market. That was the number of deals put on hold by the China Securities Regulatory Commission CSRC, after it launched a probe into a securities house that had sponsored the mooted listings.
Zhongtai Securities, a Shandong-based securities firm in China, disclosed on September 2 that the CSRC had built a formal case against the company for allegedly breaking “relevant securities and futures regulations”....
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