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Chinese regulator greenlights 10 IPOs

Updated: May 20,2017 7:46 PM     Xinhua

BEIJING — The China Securities Regulatory Commission (CSRC) has newly approved IPO applications of 10 companies.

The companies will raise no more than 6.3 billion yuan (about $920 million), a statement said on May 19.

Five companies will be listed on Shanghai Stock Exchange, two on the Shenzhen stock market’s Small and Medium-sized Enterprise Board and three on the ChiNext, China’s Nasdaq-style board.

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 more market-oriented one based on registration.

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