Stock Track | CICC Shares Plummet After Regulator Probe Over S2C IPO Sponsorship

Stock Track

Oct 14, 2024

China International Capital Corporation (CICC) shares experienced a significant plummet of 9.96% on October 14th, amid news that the company received a notice of case filing issued by the China Securities Regulatory Commission (CSRC).

The regulatory probe stems from CICC's alleged failure to exercise due diligence for its sponsorship of the initial public offering (IPO) of chipmaker S2C. Earlier this year, the Shanghai Stock Exchange barred S2C from listing its shares for five years due to inflated profits reported during the IPO process.

In a filing with the Hong Kong bourse, CICC stated that it will "actively cooperate" with the regulator and fulfill its information disclosure obligations. The news has raised concerns about potential penalties or actions against CICC for its role as the IPO sponsor, which could impact the investment bank's business and reputation.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/1137815001"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"1137815001\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/1137815001?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-14 15:06","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1137815001","market":"us","top_or_hot":-1,"title":"Stock Track | CICC Shares Plummet After Regulator Probe Over S2C IPO Sponsorship","media":"Stock Track","content":"<p>China International Capital Corporation (CICC) shares experienced a significant plummet of 9.96% on October 14th, amid news that the company received a notice of case filing issued by the China Securities Regulatory Commission (CSRC).</p>\n\n<p>The regulatory probe stems from CICC's alleged failure to exercise due diligence for its sponsorship of the initial public offering (IPO) of chipmaker S2C. Earlier this year, the Shanghai Stock Exchange barred S2C from listing its shares for five years due to inflated profits reported during the IPO process.</p>\n\n<p>In a filing with the Hong Kong bourse, CICC stated that it will \"actively cooperate\" with the regulator and fulfill its information disclosure obligations. The news has raised concerns about potential penalties or actions against CICC for its role as the IPO sponsor, which could impact the investment bank's business and reputation.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | CICC Shares Plummet After Regulator Probe Over S2C IPO Sponsorship</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | CICC Shares Plummet After Regulator Probe Over S2C IPO Sponsorship\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-10-14 15:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>China International Capital Corporation (CICC) shares experienced a significant plummet of 9.96% on October 14th, amid news that the company received a notice of case filing issued by the China Securities Regulatory Commission (CSRC).</p>\n\n<p>The regulatory probe stems from CICC's alleged failure to exercise due diligence for its sponsorship of the initial public offering (IPO) of chipmaker S2C. Earlier this year, the Shanghai Stock Exchange barred S2C from listing its shares for five years due to inflated profits reported during the IPO process.</p>\n\n<p>In a filing with the Hong Kong bourse, CICC stated that it will \"actively cooperate\" with the regulator and fulfill its information disclosure obligations. The news has raised concerns about potential penalties or actions against CICC for its role as the IPO sponsor, which could impact the investment bank's business and reputation.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"03908","symbol_name":"中金公司","start_time":0,"source_url":"","article_id":"1137815001","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1137815001","pubTimestamp":1728889588,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"China International Capital Corporation  shares experienced a significant plummet of 9.96% on October 14th, amid news that the company received a notice of case filing issued by the China Securities Regulatory Commission .The regulatory probe stems from CICC's alleged failure to exercise due diligence for its sponsorship of the initial public offering  of chipmaker S2C. Earlier this year, the Shanghai Stock Exchange barred S2C from listing its shares for five years due to inflated profits report","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"03908":"中金公司"},"translate_title":"监管机构对S2C IPO保荐进行调查后，中金公司股价暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"03908":1},"content_text":"China International Capital Corporation (CICC) shares experienced a significant plummet of 9.96% on October 14th, amid news that the company received a notice of case filing issued by the China Securities Regulatory Commission (CSRC).\nThe regulatory probe stems from CICC's alleged failure to exercise due diligence for its sponsorship of the initial public offering (IPO) of chipmaker S2C. Earlier this year, the Shanghai Stock Exchange barred S2C from listing its shares for five years due to inflated profits reported during the IPO process.\nIn a filing with the Hong Kong bourse, CICC stated that it will \"actively cooperate\" with the regulator and fulfill its information disclosure obligations. The news has raised concerns about potential penalties or actions against CICC for its role as the IPO sponsor, which could impact the investment bank's business and reputation.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}