Shanghai Fosun Pharmaceutical has secured a green light from both the China Securities Regulatory Commission and the authorities in Hong Kong for its long-awaited initial public offering on HKEx, which means that launch could start soon. read
HONG KONG (Dow Jones Banking Intelligence) – Hong Kong’s securities watchdog, the Securities and Futures Commission (SFC), is understood to be about to issue a new consultation paper, in which it will propose tougher due diligence requirements – as well as harsher sanctions for IPO sponsors that fail to follow them. This is likely to face opposition on the part of the securities industry, although since banker-bashing remains in fashion, the new rules should ultimately see the light of day.
Hong Kong Exchanges and Clearing Limited (HKEx) published on 10 December 2010 its consultation conclusions on the acceptance of mainland accounting and auditing standards and mainland audit firms for mainland incorporated companies listed in Hong Kong. read