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China approves 3 new IPOs

Updated: Apr 14,2019 6:58 AM     Xinhua

BEIJING — China’s national securities regulator has approved the initial public offering (IPO) applications of three companies.

Guangdong Rifeng Electric Cable Co, Xi’an Triangle Defense Co and Wuhan DR Laser Technology Co will become listed on the A-share market, the China Securities Regulatory Commission (CSRC) said 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.