Retail in Asia

In Sectors

Hontex to investigate HK IPO allegations

Hontex International Holdings Co. said last week it authorised its audit committee on 3 April to lead an investigation into recent allegations made against the Chinese clothing maker by Hong Kong’s securities regulator.

The company’s statement to the stock exchange on 21 April was its first acknowledging the Securities and Futures Commission’s allegations that Hontex’s financial position, as outlined in its IPO prospectus, had been "materially overstated".