BUSINESS China approves four new IPO applications

BUSINESS

China approves four new IPO applications

Xinhua

22:02, August 08, 2020

BEIJING, Aug. 8 (Xinhua) - China's top securities regulator has approved the initial public offering (IPO) applications of four companies.

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(File photo: CFP)

Shandong Fiberglass Group Co., Ltd., Shanghai YanPu Metal Products Co., Ltd., Xinyaqiang Silicon Chemistry Co., Ltd., and Chongqing Shunbo Aluminum 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. 

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