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HONG KONG, May 15 (Reuters) - The Hong Kong Securities and Futures Commission (SFC) issued new guidelines on Monday for company directors and bankers when valuing assets in corporate transactions, amid concerns that some listed firms in the city are mis-valuing assets when selling them.
The SFC said on Monday listed company directors should engage independent professional valuers with a clear mandate and make every effort to provide the valuer with relevant accurate information.
Financial advisers are also required to scrutinise the valuation process and conduct their own checks and assessments when appraising assets, the SFC added. (Reporting by Michelle Price; Editing by Muralikumar Anantharaman)