Key facts
- Hong Kong's Securities and Futures Commission is investigating Cloudbreak Pharma.
- The investigation concerns allegations of a "rigged" initial public offering.
- Trading in Cloudbreak Pharma's shares has been suspended by the watchdog.
Hong Kong's Securities and Futures Commission (SFC) has initiated an investigation into Cloudbreak Pharma, citing concerns over allegations that the company's initial public offering (IPO) was 'rigged'. As a result of the probe, the financial watchdog has suspended trading of the company's shares. The SFC has not yet provided further details on the specific nature of the allegations or the timeline for the investigation.