$17 Billion China International Capital Corporation (CICC) Investigated for Chipmaker S2C IPO in 2021 on False Information Submission & Due Diligence Failure as Underwriter, S2C Fined $560,000 in 2024 February for Inflating 2020 Profit by 118% & Revenue by 11% in IPO Materials and Banned from IPO Within 5 Years, 6 Executives Including Chairman Fined 2 Million
19th October 2024 | Hong Kong
China International Capital Corporation (CICC, $17 billion market value) is being investigated for chipmaker S2C IPO in 2021 on false information submission & due diligence failure as underwriter. S2C was fined $560,000 in 2024 February for inflating 2020 profit by 118% & revenue by 11% in IPO materials and banned from IPO within 5 years. S2C 6 executives including then-Chairman were fined 2 million. China International Capital Corporation is an investment bank founded in 1995. CICC operates a full-service business model, offering investment banking, equities, FICC (Fixed Income, Currencies and Commodities), asset management, private equity and wealth management services.
“ $17 Billion China International Capital Corporation (CICC) Investigated for Chipmaker S2C IPO in 2021 on False Information Submission & Due Diligence Failure as Underwriter, S2C Fined $560,000 in 2024 February for Inflating 2020 Profit by 118% & Revenue by 11% in IPO Materials and Banned from IPO Within 5 Years, 6 Executives Including Chairman Fined 2 Million “
$17 Billion China International Capital Corporation (CICC) Investigated for Chipmaker S2C IPO in 2021 on False Information Submission & Due Diligence Failure as Underwriter, S2C Fined $560,000 in 2024 February for Inflating 2020 Profit by 118% & Revenue by 11% in IPO Materials and Banned from IPO Within 5 Years, 6 Executives Including Chairman Fined 2 Million
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