The upcoming Shanghai IPO of Himin Solar, one of China’s largest solar water heater companies, has been suspended by the China Securities Regulatory Commission (CSRC) and the company has been placed on a list of enterprises whose IPO evaluation procedure “has been terminated.” Chinese news reports speculate that the reason for the IPO’s abrupt cancellation is Himin’s involvement in a Shandong province corruption scandal which has already claimed the scalp of one of its leading politicians.
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