Sponsors for initial public offerings (IPOs) in Hong Kong are facing new requirements and will need to put more effort into due diligence on IPO candidates from China, an investigation expert has warned.
New regulations for IPO sponsors published by the Hong Kong Securities and Futures Commission (SFC), and the Hong Kong stock exchange’s (HKEx) listing rule changes, both took effect on 1 October.
“There is not much evidence to suggest that fraud has increased in China, but there is plenty of evidence to suggest that the perception of fraud has increased significantly,” Jason Wright, associate managing director for Kroll’s Greater China investigations and disputes practice, told China Business Law Journal.
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