News Snapshot:
[Chinese firms with offshore structure to need approval for HK IPOs sources] China’s securities regulator is looking to expand its scrutiny of overseas listings by offshore incorporated companies to include initial public offerings (IPO) in Hong Kong, five people with knowledge of the matter said. The China Securities Regulatory Commission (CSRC) has already been setting up a team https://www.reuters.com/world/china/china-targets-offshore-ipo-structure-require-ministry-approval-sources-2021-07-08 to focus on companies seeking to list offshore using the so-called variable interest entity (VIE) corporate structure which Beijing says has led to abuse. But some market participants had not expected the scrutiny to be extended to such firms seeking to...
