China Issues Rules To Allow Resumption Of IPOs

From Reuters:

China’s securities regulator has issued new rules reforming initial public equity offers, paving the way for an immediate resumption of a backlog of stock IPOs that had been halted since last September.

More than 30 companies, including Everbright Securities, a top-10 brokerage, and China State Construction Engineering Corp, the biggest home builder, have won regulatory approval and have been waiting for up to a year to go public after a slumping in 2008 spurred the regulator to quietly suspend IPOs last autumn.

An resumption could push at least 100 billion yuan ($15 billion) in new shares onto the market this year, according to Reuters calculations based on the waiting list, but China’s stock market has generally been rising after the regulator hinted in late May that it would soon resume such offerings.

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