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<IPO>2 Investment Banks Reportedly Withdraw from Semi-Tech HK IPO on Staffing Constraints
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CLSA and China Securities (International) withdrew as joint coordinators for the Hong Kong IPO of domestic semiconductor CIM supplier, Semi-Tech, due to internal staffing constraints, Bloomberg quoted sources as saying. While it is unclear if the decision was due to excessive workload at these companies, it also reflects that institutions are becoming more selective in handling IPOs, the report added. CICC once said in January that it is restructuring its IPO project pipeline to focus on 'the most promising deals.' AASTOCKS Financial News Website: www.aastocks.com |
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