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The pending 18-month suspension from acting as a sponsor, along with a $15 million fine, reportedly stems from UBS’ work on a 2009 IPO by China Forestry Holdings. That company was halted from trading two years later amid an accounting scandal and later entered liquidation proceedings.
Qu Toutiao has no connection to the more popular Jinri Toutiao run by Beijing ByteDance Technology Co.
Tata Sons will sell about 1.48% stake in TCS and use the proceeds to pay creditors of its wireless division.
Funds raised from the sale will be used to bolster the lender’s capital adequacy ratio.
The Hong Kong-based company is working with investment banks on the planned share sale.
Grail may seek to raise as much as $500 million this year.
A $1.5 billion offering would be the largest ever equity deal in the Philippines.
AEP Investment Management plans to seek a market value of as much as $459 million and aims to list around the second quarter.
A $500 million offering would be the largest IPO in the city-state from a healthcare company in more than five years.
The company, which also helped fund the latest “Transformers” movie, is targeting a listing later this year.