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13 August, 2017 12:11:14 PM
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China approves eight IPO applications

XINHUA

Xinhua, BEIJING: The China Securities Regulatory Commission  (CSRC) has approved IPO applications for eight companies.

The firms and their underwriters will confirm IPO dates and publish prospectuses following discussions with the exchanges.The firms will raise up to 3.3 billion yuan (around 490 million US dollars), the CSRC said. Four of them will be listed on the Shanghai stock exchange, one on the Shenzhen small and medium enterprise board, and three on the ChiNext, China’s NASDAQ-style board.

Under the current IPO system, new shares are subject to approval from the CSRC. China is gradually switching from an approval-based IPO system to a more market-oriented system based on registration.

Since an IPO suspension between July and November 2015, China has sought to normalise IPOs by giving approvals at a faster pace to raise financing efficiency and direct more money into the real economy.

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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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