Investing
Shanghai Exchange urges bankers to vet Chinese medical firms IPOs – sources
© Reuters. FILE PHOTO: A men wearing a mask walk at the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, as the country is hit by an outbreak of a new coronavirus, February 3, 2020. REUTERS/Aly Song/File Photo
SHANGHAI (Reuters) – The Shanghai Stock Exchange has urged bankers to pay close attention to the marketing practices of Chinese drug and medical equipment makers seeking initial public offerings (IPOs) amid an escalating anti-corruption drive in the sector, sources said.
The bourse asked investment bankers and lawyers to ensure drugmakers’ compliance and legitimacy in sales and marketing activities, according to an internal publication the exchange sent to bankers in late July that was reviewed by Reuters.
Two banking sources familiar with the issue confirmed the information. The Shanghai exchange declined to comment.
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