IPO of BYD’s semiconductor division postponed

The Shenzhen Stock Exchange has suspended a planned IPO of BYD Semiconductor for the time being. The reason is a review of the advising law firm by the stock exchange supervisory authority, reports the portal Equal Ocean. The Beijing Tian Yuan law firm had recently provided legal support to several high-profile IPOs, including the initial listings of video platform Bilibili and mineral water bottling company Nongfu Spring (as reported by China.Table). The Security Regulatory Commission has now suspended all operations involving Beijing Tian Yuan. It is not clear from the stock exchange announcement what exactly has aroused the authority’s suspicion. A total of 42 IPOs are currently blocked in Shenzhen.