EconomyHong Kong watchdog investigates Cloudbreak Pharma over ‘rigged’ IPO, suspends shares

Hong Kong’s Securities and Futures Commission has ordered the stock exchange to halt trading in US biotech firm Cloudbreak Pharma while it investigates the company’s US$78 million IPO last year. The regulator said it has serious concerns that the offering may have been rigged to create an artificial appearance of demand for the shares.

Hong KongCloudbreak PharmaIPOregulatory investigation

SSouth China Morning Post★★☆☆☆2026-09-10 10:08Original