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China bans 139 funds from investing in tech board IPOs

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Chinese regulators suspended 139 funds from investing in initial public offerings after money managers breached subscription regulation on the new tech board - Star market.

Shenzhen Lin Yuan Investment Management Co., Zhejiang High-Flyer Asset Management Co. and Yingshui Investment Co. were among firms that had multiple funds punished for the violations, with bans of six months or one year, the Securities Association of China said in a statement late Tuesday.

The funds made IPO applications on the Star market, which . . .

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