Chinese bourses have halted 42 initial public offerings (IPOs) amid a regulatory probe into four intermediaries in the deals. It marks the latest move in the Chinese regime’s escalating crackdown on the private sector. The Shenzhen Stock Exchange suspended more than 30 IPOs, including public share sale plans by the electronic carmaker BYD Co’s chip unit, on Aug. 18, according to exchange filings. Meanwhile, the Shanghai Stock Exchange has pressed the pause button on eight IPOs targeting the city’s tech-focused STAR Market since Aug. 19. Among those hit was Chinese electric car maker BYD’s chip unit. BYD Semiconductor had in May filed plans to list on Shenzhen’s Nasdaq-style ChiNext board, aiming to raise at least 2.68 billion yuan ($413 million), its prospectus said. The companies attribute the IPO suspension to an investigation by the China Securities Regulatory Commission (CSRC) into intermediaries, including Beijing-based Tian Yuan Law Firm, China Dragon Securities …
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