China's CSRC plans 100 IPOs from June to year-end: Xinhua

BEIJING Mon May 19, 2014 1:02pm EDT

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BEIJING (Reuters) - The China Securities Regulatory Commission (CSRC) is planning about 100 initial public offerings (IPOs) from the beginning of June to the end of 2014, state media reported its chairman as saying on Monday.

"To stabilize market expectations, we plan for about 100 companies to go public, with a roughly balanced number of IPOs each month," the official Xinhua news agency cited CSRC Chairman Xiao Gang as saying.

The statement came as China looks to revamp its IPO rules, including relaxing the regulations for listings and share issues on a NASDAQ-style stock board, to support the growth of cash-short smaller companies and the continued outperformance of the so-called ChiNext market over blue chip stocks.

(Reporting by Paul Carsten; Editing by Kevin Liffey)

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