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8 firms go public outside mainland as IPOs still frozen in Shanghai, Shenzhen

WHILE eight companies in China's mainland went public outside the mainland last month, a freeze of initial public offerings continues on the Shanghai and Shenzhen bourses, reports showed.

They include one company -- 58.com Inc, an online classifieds company -- that was listed on the New York Stock Exchange and another seven on the Hong Kong stock exchange, Zero2IPO Research Center said in a report today.

The new listings raised a total US$97.9 billion, a drop of 41 percent from the amount such IPOs raised in September, the report said.

New share offerings on China's mainland have been suspended for one year as the securities regulator tries to restore investor confidence and overhaul the IPO review system to improve market transparency.

As of October 24, 754 companies were waiting for approvals from the China Securities Regulatory Commission to launch IPOs on the Shanghai and Shenzhen bourses.

Deloitte Touche Tohmatsu said in a quarterly report that the regulator may reboot IPOs around the upcoming Third Plenary Session of the CPC's Central Committee this month.


 

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