HK TO CRACK DOWN ON ‘SUSPICIOUS’ ASSET DISPOSALS

HONG KONG: Hong Kong plans to crack down on overly-valued asset sales by listed companies in the city, part of a move to clean up capital market activities in the Asian financial hub, the top securities regulator said yesterday. The Securities and Futures Commission plans to step up scrutiny of initial public offerings and listed companies, chief executive Ashley Alder said, after recently taking a closer look at IPOs in the small-cap Growth Enterprise Market at the Hong Kong stock exchange because of massive debut price spikes during listings. – Reuters