BUSINESS Chinese securities regulator approves 3 new IPOs

BUSINESS

Chinese securities regulator approves 3 new IPOs

Xinhua

09:59, December 22, 2018

BEIJING, Dec. 22 (Xinhua) - China's national securities regulator has approved the initial public offering (IPO) applications of three companies.

Qingdao Vland Biotech Co., Suzhou Longjie Special Fiber Co., and RoboTechnik Intelligent Technology Co. will become listed on the A-share market, said the China Securities Regulatory Commission (CSRC) in a statement, without specifying 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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