The US Securities and Exchange Commission (SEC) has filed a lawsuit against two Chinese executives from Puda Coal, accusing them of shifting its main asset to a third-party company and then selling a stake to CITIC Trust. Ming Zhao and Liping Zhu, chairman and CEO respectively, didn’t disclose their actions and went on to raise $115 million from investors after listing the company in the US.
The lawsuit is the first to be filed as part of an SEC investigation of accounting irregularities at overseas companies listed in the US, particularly Chinese firms that completed reverse takeovers (RTOs)....
Canada Pension Plan Investment Board (CPPIB) has signed an agreement with China’s National Development & Reform Commission (NDRC) to provide assistance to policymakers as they address the challenges presented by an aging population.
Zuoyebang, a K-12 focused education mobile app that spun out from Chinese online search engine Baidu, has raised a $60 million Series B round co-led by GGV Capital and Xiang He Capital, a new VC firm set up by a former executive at Baidu.
Boss Zhipin, a Chinese recruitment app, has raised a $28 million Series C round across two tranches of funding.
Direct Capital will exit the bulk of its holding in New Zealand King Salmon as the seafood company seeks to raise up to NZ$77.5 million ($56.4 million) through a domestic and Australian IPO.