Aug 24, 2021 08:18 PM

FINANCE

China Seeks to Quell Investors Ganging Up to Drive Down IPO Prices

By Liu Caiping and Zhang Yukun

Revised draft rules published by the Shanghai and Shenzhen stock exchanges seek to end practices that let bidders gang up and drive down IPO prices on the STAR Market and ChiNext. Photo: VCG

Revised draft rules published by the Shanghai and Shenzhen stock exchanges seek to end practices that let bidders gang up and drive down IPO prices on the STAR Market and ChiNext. Photo: VCG

Stock markets specializing in high-tech listings in China plan to introduce revised rules that aim to strike a better balance between IPO applicants and investors, seeking to end practices that let bidders gang up and drive down prices of new listings on Shanghai’s (link in Chinese) STAR Market and Shenzhen’s (link in Chinese) ChiNext board, the exchanges’ owners have said.

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