China delists company over IPO fraud for first time
Updated: 2016-07-08 17:29
(Xinhua)
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An investor watches an electronic board showing stock information at a brokerage office in Beijing, March 30, 2016.[Photo/VCG] |
Procedures will be launched to delist Dandong Xintai Electric Co Ltd, a Liaoning-based electric equipment maker, as the company was convicted of fabricating financial data in its IPO application, the China Securities Regulatory Commission announced Friday.
It was the severest penalty ever against IPO fraud in China's stock market.
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