UPDATE 1-China clears 2nd batch of IPOs after ending listing freeze
SHANGHAI Jan 2 (Reuters) - 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.
The China Securities Regulatory Commission (CSRC) gave the greenlight to five companies on Tuesday, including Shanghai Liangxin Electrical Co Ltd and Being UTour International Travel Service Co Ltd, according to stock exchange filings.
In addition, Shaanxi Coal and Chemical Industry Group Co Ltd, has also received approval, the official China Securities News reported on Thursday, although its filing was not available on the stock exchange website.
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.
($1 = 6.0539 Chinese yuan)
(Reporting by Samuel Shen and Gabriel Wildau; Editing by Anupama Dwivedi and Matt Driskill)
- Police hunt for motive as search for Malaysian jet spans hemispheres |
- Russia media say Crimea votes 93 percent to quit Ukraine |
- Ukraine, Russia agree Crimea truce until March 21-Ukraine minister
- Malaysian PM says lost airliner was diverted deliberately |
- Democrats seek ways to limit Obamacare fallout after Florida defeat