China’s regulator cites investment bank CICC for negligence in arranging Lenovo’s US$1.8 billion IPO on Star Market

Source: Tech – South China Morning PostChina’s securities regulator has taken the nation’s largest investment bank to task for underwriting the US$1.8 billion initial public offering (IPO) by Lenovo in Shanghai, in a move that sends another chilly gust through the capital markets.China International Capital Corporation (CICC), often described as the “Goldman Sachs of China,” was negligent in arranging Lenovo’s IPO on the Star Market, which was withdrawn in October a week after it was filed.The bank’s staff failed to follow the…Read More

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