Deals
Hong Kong Regulator Probes CCB International's IPO Work
- Chinese bank worked on proposed Fujian Dongya listing in 2014
- SFC investigates due diligence done on Chinese seafood vendor
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Hong Kong’s securities regulator is investigating CCB International Holdings Ltd., the No. 2 underwriter of initial public offerings in the city last year, for its role advising a Chinese seafood supplier on now-scrapped listing plans, according to people with knowledge of the matter.
The Securities and Futures Commission has been interviewing staff of the Chinese investment bank and requesting documents relating to its work during 2014 on the proposed IPO of Fujian Dongya Aquatic Products Co., according to the people. It is focusing on CCB International’s due diligence on the company to see whether the bank properly vetted the listing applicant, the people said, asking not to be identified because the information is private.