Business / Policy Watch

CSRC sets deadline for IPO disclosures for June

By Cai Xiao (China Daily) Updated: 2014-04-26 07:25

Most companies whose applications for initial public offerings are being evaluated will make their preliminary disclosures by the end of June, a spokesman for the China Securities Regulatory Commission said on Friday.

The disclosures, which explain the size and purpose of an issue, will be posted on the CSRC website.

From April 18-24, there were 97 companies that posted disclosures. Among them, 47 applied for offerings in Shanghai and 50 in Shenzhen.

According to data from the commission, 606 companies were in line for approval as of April 17.

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"The commission will balance the examination progress of companies to be listed in Shanghai and Shenzhen," said Zhang Xiaojun, a spokesman of the CSRC.

In March, the commission said that it will allow candidates to choose freely between Shanghai and Shenzhen stock, a policy relaxation that is in line with its reform of the listing system.

Previously, the Shenzhen Stock Exchange mostly hosted companies that offered fewerthan 50 million shares in an IPO, whereas Shanghai had those that issued more than 80 million shares. Those issuing between 50 million and 80 million shares could list on either exchange.

Guan Qingyou, head of research at Minsheng Securities Co Ltd, said that the new round of IPOs will drain liquidity from the market and push down stock indexes.

August and September will be the peak for going public, and A shares will be under pressure at that time, according to Citic Securities Co Ltd.


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