Citic Securities warned by regulators

CSRC warns China's biggest brokerage over dishonest disclosure in IPO of yarn maker.

Citic Securities warned by regulators

Regulators in China have sent a letter of warning to Citic Securities, China’s biggest brokerage firm, accusing it of providing dishonest disclosure in relation to an initial public offering it sponsored.

Bros Eastern, a Chinese textile maker, launched its Rmb2 billion $327 million A-share IPO in June. Two months later, the company dealt a blow to the market when it reported that its net income fell 96% in the third quarter to just Rmb6...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition

EVENTS