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SFC fines China Merchants Securities HK$27m for sponsor failures
As we predicted in March when UBS was fined but one of its clients was not named, this relates to the IPO of China Metal Recycling, listed in 2009 and ordered in 2015 to be wound up. The IPO was jointly sponsored by UBS and China Merchants Securities.
- CHINA MERCHANTS SECURITIES (HK) CO., LIMITED
- China Merchants Securities Co., Ltd.
- China Metal Recycling (Holdings) Limited
- UBS AG
- UBS SECURITIES HONG KONG LIMITED