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April 10, 2017

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Regulatory approval for 10 IPOs

CHINA’S stock market regulator has approved the initial public offering applications of 10 companies.

They will be allowed to raise no more than 3.1 billion yuan (US$449 million), the China Securities Regulatory Commission said in a statement.

Four companies will be listed on the Shanghai bourse, one on the Small and Medium Enterprise Board in Shenzhen and five on ChiNext, China’s Nasdaq-style board.

The companies and underwriters will confirm the IPO dates after discussion with the exchanges.

Under the current IPO system, new shares are subject to approval from the CSRC, which controls both the timing and pricing. China is seeking to transform from an approval-based system to a more market-oriented one.


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