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China approves three IPO applications

Updated: Sep 2,2018 7:05 AM     Xinhua

BEIJING — China’s top securities regulator has approved new IPO applications from three companies, which will raise no more than 1.4 billion yuan in the A-share market.

One company will be listed on the Shanghai Stock Exchange. Two companies will be listed on the Shenzhen Stock Exchange, according to the China Securities Regulatory Commission (CSRC).

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

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.