January 27, 2018 / 8:59 AM / 3 months ago

China's securities regulator approves 3 IPOs worth total $775 mln

BEIJING, Jan 27 (Reuters) - China’s securities regulator on Friday approved three initial public offering applications, which combined will raise as much as 4.9 billion yuan ($775 million).

Jiangsu Financial Leasing and Tianjin 712 Communication Broadcast will be listed on the Shanghai Stock Exchange, and a Guizhou-based tech firm will be traded on the NASDAQ-style board ChiNext, the China Securities Regulatory Commission (CSRC) said in a post on its official microblog.

China has sought to accelerate IPO approvals to improve financing efficiency and direct more money into the real economy after suspending IPOs between July and November 2015.

$1 = 6.3199 Chinese yuan Reporting by Ryan Woo; Editing by Tom Hogue

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