China plans to exempt Hong Kong IPOs from cyber-security reviews

HONG KONG (BLOOMBERG) – China plans to exempt companies going public in Hong Kong from first seeking the approval of the country’s cyber-security regulator, removing one hurdle for businesses that list in the Asian financial hub instead of the United States, according to sources familiar with the matter. The exemption was outlined by officials in recent meetings with bankers, after a government statement on Saturday (July 10) announcing a new review process for foreign listings prompted questions over whether it would apply to Hong Kong, the sources said. The Cyberspace Administration of China (CAC) will vet companies to ensure they…