China wants IPO sponsors on new tech board to invest in deals

Pedestrians walk along an elevated walkway as an electronic ticker displays stock figures in Pudong's Lujiazui Financial District in Shanghai, China, on Friday, Dec. 28, 2018. China announced plans to rein in the expansion of lending by the nation's regional banks to areas beyond their home bases, the latest step policy makers have taken to defend against financial risk in the world's second-biggest economy. Photographer: Qilai Shen/Bloomberg

Chinese authorities said that sponsors of initial public offerings on its forthcoming technology-focused listing venue will need to invest in as much as 5 percent of the shares issued by their clients, an unusual requirement that may limit foreign interest in leading deals on the new bourse.

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