(Adds 'yuan' in para 7 and 'million' in para 8)
SHANGHAI, June 16 Four Chinese companies aim to
raise up to 1.7 billion yuan ($273.80 million) via initial
public offerings in Shanghai and Shenzhen, the first firms to
push forward with listings after a four-month lull.
The securities regulator last week approved the listing
plans of seven firms, effectively resuming the IPO market which
halted in February after a two-month flurry of activity ended a
14-month drought that started in November 2012.
Shanghai Lianming Machinery Co Ltd aims to sell up to 20
million shares at 9.93 yuan a piece, the company said in a
statement posted on the Shanghai stock exchange website on
Tuesday, meaning it will raise 198.6 million yuan if fully
subscribed. The company has said it plans to use the proceeds to
fund projects worth 250 million yuan.
The company, which will trade under the ticker,
will take subscriptions on June 17 and 18 and announce the
results on June 20.
China Securities Co Ltd will be underwriting the sale.
The other three will list on the smaller Shenzhen stock
exchange and aim to raise a total of 1.5 billion yuan, the
companies said in statements posted on the exchange website.
Wuxi Xuelang Environmental Technology Co Ltd aims to sell up
to 20 million shares at 14.73 yuan each for a total of 294.6
million yuan if fully subscribed, with Pacific Securities Co Ltd
acting as underwriter.
Shandong Longda Meat Foodstuff Co Ltd aims to sell up to
54.59 million shares at 9.79 yuan each for a total of 534.4
million yuan if all sold, while Feitian Technologies Co Ltd aims
to raise up to 662.9 million yuan with shares priced at 33.13
Guosen Securities will be the underwriter for both
The China Securities Regulatory Commission is planning about
100 IPOs for the rest of this year, bringing the full-year tally
up to 150, about half the number forecast by consultants
($1 = 6.2090 Chinese Yuan Renminbi)
(Reporting by Shanghai Newsroom; Editing by Kazunori Takada and