Former Hong Kong IPO Vetting Chief Pleads Not Guilty as Trial Begins
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A former Hong Kong Exchanges and Clearing Ltd. executive in charge of vetting initial public offerings pleaded not guilty in the Hong Kong District Court on Monday to allegations of bribery.
Eugene Yeoh Kim-loong was accused of taking HK$9.15 million ($1.18 million) from IPO consultant Richard Lum Chor-wah between 2017 and 2019, in order to give companies an easier path to being approved to list on the bourse. The city’s anti-graft body, the Independent Commission Against Corruption, first took the pair to court in March 2020. They had been on bail since, until today’s court appearance.