Mainland IPOs to resume after new rules released

Initial public offerings on the mainland stock market will restart after details of the new share issuance system are released, said the China Securities Regulatory Commission on Friday, which did not specify the timeframe for the reboot.

New share issuing reform is far more complex than simply reopening the floodgates for IPOs, said the spokesman for the commission at a news briefing.

The commission is currently pressing forward with the reform. IPOs will restart as soon as the commission officially unveils the system, he added.

The battle against securities fraud was fruitful earlier this year, said the spokesman.

Investigations into the frauds of Wanfu Biotechnology (Hunan) Agricultural Development Co, Tianneng Battery Group Co Ltd and Suzhou Xindadi Hardware Co Ltd have been completed. The specific results will be released after these companies and other relevant parties have been notified of the final verdicts, said the commission.