Finance
Morgan Stanley Queried by Congressman on Gold Miner’s HK IPO
Chen Jinghe, chairman of Zijin Mining Group Co., right, attends the company's listing ceremony at the Hong Kong Stock Exchange on Sept. 30.
Photographer: Lam Yik/BloombergMorgan Stanley is facing scrutiny from the Republican head of the US House China committee over whether the bank performed enough due diligence in underwriting the $3.7 billion Hong Kong initial public offering of Zijin Gold International Co. in September.
In a letter to Chief Executive Officer Ted Pick dated Nov. 13, Representative John Moolenaar requested more information from Morgan Stanley including documents and communications related to the transaction, which at the time was the world’s largest such offering since May.