Hong Kong regulator suspends Baicha shares over suspected IPO rigging, freezes record HK$4.38B

Hong Kong's regulator suspended Baicha shares over suspected IPO rigging and froze a record HK$4.38 billion. Two suspected syndicates may have faked demand in the IPOs of Baicha, Cloudbreak Pharma and Tianju Dihe, with IPO proceeds possibly channelled back to major placees.

Detected & updated continuously · Source: Nebula