Hong Kong watchdog flags IPO application failings, steps up scrutiny
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Hong Kong's securities regulator has identified serious deficiencies in IPO listing applications, leading to increased scrutiny and a halt in the vetting of some applications. The Securities and Futures Commission (SFC) has asked 13 listing sponsors to conduct a comprehensive review of their procedures and suspended 16 applications that did not meet standards. The SFC warned that it may restrict the business scope of sponsors with unsatisfactory work and emphasized the importance of maintaining quality in the capital market amid a surge in listings.
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