CSRC’s nod for 10 IPOs marks restart of listings
Print Edition
THE China Securities Regulatory Commission approved 10 initial public offering applications yesterday, marking the official restart of IPOs since mid-February.
Five applicants will be listed on the Shanghai Stock Exchange and the rest on the Shenzhen Stock Exchange, the CSRC said in a Weibo posting. But it did not provide their names.
The applicants and their brokerages will set the share-issuing dates after talking with the two bourses and release their prospectuses in the coming days.
The CSRC plans to approve some 100 IPO applicants from this month to the year-end. About 600 companies are now awaiting listing on the two stock exchanges.
The restart of IPOs is widely seen as problematic because a wave of new shares, some feared to come from unqualified issuers, will dilute market value and possibly cause losses to individual investors.
To address concerns, CSRC Chairman Xiao Gang said it will keep new listings at a proper pace so that the equity market can withstand the potential impact.
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