China halts over 20 IPOs sponsored by China Merchants Securities amid investigation

China halts over 20 IPOs sponsored by China Merchants Securities amid investigation

Photo: Reuters

Chinese bourses have halted processing more than 20 initial public offering (IPO) plans sponsored by China Merchants Securities, following an investigation into the broker, according to exchange disclosures.

The Shenzhen Stock Exchange has suspended 15 IPO plans set for its ChiNext board, while the Shanghai exchange has paused five IPOs targeting its tech-focused STAR Market since last Friday, exchange filings showed.

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