BEIJING, April 22 More firms, including
Shanghai-based Guotai Junan Securities, announced plans to list
in China's equity markets on Tuesday, sharply increasing the
number of potential stock debutants amid a two-month lull in new
Eighteen draft prospectuses for initial public offerings
(IPOs) from companies including Orient Securities Co Ltd. and
Dongxing Securities 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 four days to 64, a trend that may
worry those who fear a deluge of new listings may pressure
Chinese share prices by reducing funds for existing stocks.
The growing line of companies waiting to make their stock
debuts comes after a two-month drought of new listings, shutting
out firms in need of new financing and raising fears that the
government has suspended IPOs once more.
China halted new listings for 14 months from late 2012, in
what some analysts said was a bid to shield sluggish domestic
equity markets from further downward pressure.
The lack of regulatory approval for new listings in the past
eight weeks have caused some companies to abandon their listing
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 Koh Gui Qing; Editing by Ron Popeski)