April 16, 2019 / 9:46 AM / 2 months ago

Underwriters for new China tech board IPOs must subscribe to 2-5 pct of share offer - exchange

SHANGHAI, April 16 (Reuters) - Underwriters for initial public offerings (IPOs) on Shanghai’s new Nasdaq-style technology innovation board must use their own money to subscribe to 2-5 percent of share offerings, according to new rules published on Tuesday by the Shanghai bourse.

Requiring investment banks to invest in the IPOs they underwrite is aimed at aligning their interest with public investors.

Reporting by Samuel Shen and Andrew Galbraith; Editing by Kim Coghill

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below