Hong Kong exchange returns IPO application sponsored by top Chinese investment bank

Inner Mongolia Xingye Silver & Tin Mining says it plans to resubmit application before end of September The Hong Kong stock exchange has returned an IPO application sponsored by China’s leading investment bank, sending a strong signal of increased scrutiny. It was the first initial public offering application to be returned in Hong Kong in seven months, according to public records, and came amid increasing regulatory pressure as the city’s exchange experiences an IPO boom. Since 2014, if HKEX has deemed a listing application incomplete, it has returned the filing and publicly disclosed the sponsor’s name on its website. Twenty-six applications have been returned: 16 for the exchange’s main board and 10 for its GEM board.

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