中文

China approves four new IPOs

11/04/2019 15:05

China's securities regulator has approved the initial public offering (IPO) applications of four companies.

Guangzhou Tongda Auto Electric Co., Ltd., Zhengzhou Tiamaes Technology Co., Ltd., Jiangsu Sidike New Materials Science and Technology Co., Ltd. and Guangdong Brandmax Marketing Co., Ltd will be listed on the A-share market, the China Securities Regulatory Commission (CSRC) said in a statement.

It did not specify 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.

(Source: Xinhua)

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