Caixin
Dec 30, 2021 06:00 AM
FINANCE

Regulator Summons CICC Staff Over Lenovo’s Scrapped Listing Plan

What’s New: Staff members of China’s leading investment bank, China International Capital Corp. (CICC), were accused by the country’s top securities regulator of flaws in handling a short-lived share sale plan for Lenovo Group.

The China Securities Regulatory Commission (CSRC) called in five employees of state-backed CICC’s investment banking department last week for a regulatory interview, criticizing them for inadequate due diligence in assessing Lenovo’s eligibility for the country’s tech-savvy STAR Market, the CSRC disclosed Wednesday.

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