China unveils sweeping rules for foreign IPOs in wake of Didi

BEIJING (Bloomberg): China has unveiled sweeping regulations governing overseas share sales by the country’s firms, taking one of its biggest steps to tighten scrutiny on international debuts in the wake of Didi Global Inc’s controversial listing.

The regulations, issued by the country’s securities watchdog, commerce ministry and top economic planning agency over the past week, cast more uncertainty over the prospects for overseas initial public offerings that had proceeded virtually unchecked for two decades.