WeDoctor drops Credit Suisse from $1 bln IPO role over Luckin probe- sources [Reuters (UK)]
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Source: Reuters
WeDoctor drops Credit Suisse from $1 billion IPO role over Luckin probe: sources - Reuters 3 Min Read HONG KONG (Reuters) - Chinese online healthcare platform WeDoctor has dropped Credit Suisse ( CSGN.S ) from a list of banks it had lined up lead its up to $1 billion initial public offering in Hong Kong, two people of direct knowledge told Reuters. WeDoctor’s decision comes days after China’s securities regulator said it would investigate claims of fraud at coffee startup Luckin Coffee ( LK.O ) where an internal investigation had found that its chief operating officer and other staff fabricated sales transactions worth about 2.2 billion yuan. Credit Suisse, together with Morgan Stanley ( MS.N ), CICC ( 3908.HK ) and Haitong International Securities ( 0665.HK ), worked on Luckin Coffee’s $645 million U.S. IPO in May last year. “WeDoctor’s executives have concerns over Credit Suisse’s role in Luckin-related deals. Given uncertainty over the outcome, the bank is probably no lon
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