May 8, 2020 / 11:45 AM / 20 days ago

China to implement IPO reform on Shenzhen start-up board ChiNext in Aug -sources

SHANGHAI, May 8 (Reuters) - China plans to officially implement initial public offering (IPO) reforms on Shenzhen’s start-up board ChiNext in August, three sources told Reuters on Friday.

China last week announced plans to launch a U.S.-style, registration-based IPO system on ChiNext as Beijing accelerates capital market restructuring to reinvigorate an economy ravaged by the coronavirus.

The Shenzhen Stock Exchange and China’s securities regulator were not immediately available for comment.

Reporting by Xiaochong Zhang and Brenda Goh; writing by Samuel Shen; editing by Jason Neely

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