AMTD Digital parent behind 32,000% IPO probed by Hong Kong regulator | The Straits Times

HONG KONG (BLOOMBERG) – The Hong Kong financial group behind an initial public offering (IPO) that stunned Wall Street by soaring more than 32,000 per cent following its debut has drawn regulatory scrutiny over deals it arranged in the Asian financial hub. The previously unreported probe by Hong Kong’s securities watchdog into AMTD Group, which is run by former UBS Group banker Calvin Choi, predates the US listing of its unit AMTD Digital. Despite reporting just US$25 million (S$34.5 million) of revenue in the year ending in April 2021, AMTD Digital’s market capitalisation briefly surged above US$400 billion in early…