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Chip giant’s IPO hit by Beijing crackdown on business

August 26, 2021
Source: fingaz.co.zw fingaz.co.zw
News Snapshot:
Chinese electric car maker BYD’s plan to sell shares in its computer chip making unit has been suspended, the latest share offering to be hit by Beijing’s crackdown on businesses. The listing has been put on hold due to a regulatory investigation into the law firm advising the company. The plan to list on Shenzen’s Nasdaq style market ChiNext was filed in May. The suspension comes amid a broader regulatory tightening on industry by Chinese authorities. Over the weekend, the Shenzen Stock Exchange said Beijing Tian Yuan Law Firm, one of China’s biggest legal services companies, was being investigated in...
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