China International Capital (HK:3908) has released an update.
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China International Capital Corporation (CICC) has been penalized by the China Securities Regulatory Commission for failing to exercise due diligence in its sponsorship of S2C Limited’s IPO. The regulatory body found misrepresentations in the documents issued by CICC and imposed a fine of RMB 6 million, along with other penalties. CICC has committed to improving its practices to better protect investors and the capital market.
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