Hong Kong suspends UBS as IPO lead underwriter for 18 months

Hong Kong suspends UBS as IPO lead underwriter for 18 months

A file picture shows the waning moon behind a logo of Swiss bank UBS in Zurich, Switzerland February 10, 2015. REUTERS/Arnd Wiegmann/Files

Hong Kong’s securities regulator has blocked UBS from sponsoring initial public offerings for 18 months, the Swiss bank said in its annual report released on Friday, adding it planned to appeal against the decision.

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