Not long after his boss had a run-in with authorities regarding proposed new regulations for high tech companies. Consequently, they put a stop to his IPO plans for a new tech company he planned to float. That listing was to be the largest public listing in history. The CEO to one of the companies affiliated to the new IPO has come out and agreed with the authorities. Subsequently, he states that the authorities are playing a responsible role in the regulation of the high tech industry in the country. Taking a less abrasive route than his boss he avoided confrontation. Stating he believed that authorities were only doing their duty in wanting the tighter regulation to be fit for purpose. His company which like other high tech companies saw their share price fall. Gained in value after his speech.
