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China’s securities regulator approves 3 IPO applications

Updated: Apr 5,2019 1:11 PM     Xinhua

BEIJING — China’s securities regulator has approved IPO applications from three companies.

The applications were from auto parts maker Nanjing Chervon Auto Precision Technology, third-party payment firm Lakala and wind turbine manufacturer Zhejiang Windey, according to the China Securities Regulatory Commission (CSRC).

The firms and their underwriters will confirm IPO dates and publish prospectuses following discussions with the 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 a market-oriented one based on registration.