China Clears 2nd Batch of IPOs After Ending Listing Freeze
China has approved six more companies to list on mainland stock exchanges, the second batch to get approval since regulators ended a year-long freeze on initial public offerings, state media reported on Thursday.
The China Securities Regulatory Commission (CSRC) gave the green light to six companies on Tuesday, including Shaanxi Coal and Chemical Industry Group, Shanghai Liangxin Electrical, Being UTour International Travel Service Co Ltd, the official China Securities Journal reported.
Shaanxi Coal is the largest among the six and had already received preliminary CSRC approval for an IPO prior to the suspension. It had planned to raise around 17.2 billion yuan ($2.84 billion).
That would make it the largest Chinese IPO since Agricultural Bank of China debuted in 2010.
The latest approvals follow an initial batch of five approvals earlier this week.
The long-awaited resumption of the IPO market is a boon to the more than 750 companies whose applications are pending with the regulator but will bring trepidation to equity investors, who fear new listings will siphon off demand from existing shares.
