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Small companies shelve Hong Kong IPOs after official crackdown

Hong Kong

FOUR planned listings on Hong Kong's small-company exchange, known for its wild price swings, were shelved this week in the wake of a warning that participants would be more thoroughly scrutinised.

Logistics provider XiangXing International Holding Ltd said on Monday that it will postpone its initial public offering (IPO) on the Growth Enterprise Market (GEM) after receiving inquiries from regulators. Local lingerie brand My Heart Bodibra Group Ltd, swimming pool contractor Hao Bai International (Cayman) Ltd and knitwear supplier Speed Apparel Holding Ltd all announced this week they will let plans for GEM debuts lapse after failing to meeting listing conditions.

Closer scrutiny of GEM,...

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