Former Hong Kong bourse official charged with bribery relating to IPO [Reuters]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Reuters
Former Hong Kong bourse official charged with bribery relating to IPO HONG KONG, March 25 (Reuters) - Hong Kong’s anti-corruption unit said on Wednesday it had charged a former bourse official with bribery and misconduct regarding an IPO application by thread manufacturer Shen You Holdings Limited in 2017. The Independent Commission Against Corruption (ICAC) alleged in a statement that Eugene Yeoh accepted cash payments from a consultant as an inducement to view the IPO application favourably. At the time, Yeoh was joint-head of the IPO vetting team at Hong Kong Exchanges and Clearing, responsible making sure applications were compliant with listing rules and endorsing recommendations to the bourse’s listing committees which have the final say. Yeoh left the bourse in May 2019. Yeoh did not immediately respond to a LinkedIn message seeking comment and contact information for his lawyer could not be immediately obtained. A spokesman for the bourse said it “has cooperated fully with the
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