China greenlights three ChiNext IPOs

BEIJING -- China's top securities regulator has allowed three companies to register for initial public offerings (IPOs) on the ChiNext, China's Nasdaq-style board of fast-growing enterprises.

Zhejiang Runyang New Materials Technology Co., Ltd., Shenzhen Longtech Smart Control Co., Ltd. and Shanghai Hi-Road Food Technology Co., Ltd. will be listed on the Shenzhen Stock Exchange's ChiNext board, the China Securities Regulatory Commission said in a statement.

The companies and their underwriters will confirm the IPO dates and publish their prospectuses following discussions with the stock exchange.

China introduced a series of measures in June to replace the approval-based IPO system with a registration-based one on the ChiNext.