More Chinese firms plan stock market debuts
BEIJING, April 24
BEIJING, April 24 (Reuters) - Twenty-two Chinese firms, including Zhoushan Port Co., Ltd, announced plans on Thursday to list on China's equity markets, boosting the number of potential stock market debutants after a two-month lull in new listings.
Draft prospectuses for initial public offerings (IPOs) were posted on the website of China's securities regulator, China Securities Regulatory Commission.
This increases the total number of companies that announced their IPO plans in the past six days to at least 87, a trend that may worry some investors who fear a flood of new listings could pressure Chinese share prices by reducing funds for existing stocks.
China halted new listings for 14 months from late 2012, in what some analysts said aimed to shield sluggish domestic equity markets from further downward pressure.
The lack of regulatory approval for new listings in the past eight weeks has caused some companies to abandon their listing plans.
There are no indications in the draft prospectuses whether the IPOs have been approved or when they would take place. As of April 18, 606 firms in China were on the IPO waiting list, down from 675 the previous week. (Reporting by Michael Martina. Editing by Jane Merriman)