Fears on fraudulent Chinese offering documents
December 01, 2009
Counsel in Hong Kong and China are concerned that the quality of disclosure on some Chinese company offering documents is being sacrificed in a bid to catch the latest stock market rally
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| Banks need to kick these tyres. Or the regulators will step in |
The fears increased following the news on Tuesday that Chinese aluminium producer China Zhongwang is fighting allegations that it falsified information about its customer base on its recent initial public offering (IPO) prospectus.
The company has called in Ernst & Young as an external auditor...
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