BUSINESS
China approves 6 new IPO applications
Xinhua
17:55, August 15, 2020


China's top securities regulator has approved the initial public offering (IPO) applications of six companies. (Photo: Sipa)

BEIJING - China's top securities regulator has approved the initial public offering (IPO) applications of six companies.

Shanghai Huafon Aluminium Corporation, Hangzhou Haoyue Industrial Co Ltd, Shanghai Zhonggu Logistics Corporation, Rayhoo Motor Dies Co Ltd, Elite Color Environmental Resources Science & Technology Co Ltd and Guangdong Tianhe Agricultural Means of Production CO Ltd will be listed on the A-share market, the China Securities Regulatory Commission (CSRC) said in a statement.

It did not specify the total amount of funds to be raised.

The companies and their underwriters will confirm IPO dates and publish their prospectuses following discussions with the stock exchanges.

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 one based on registration.