Chinese securities regulator rejects more IPO applications

Updated 2017-06-05 09:31:05 Xinhua

China's top securities market regulator has rejected more initial public offering (IPO) applications from companies amid efforts to improve the quality of listed companies and protect the interests of individual investors.

The China Securities Regulatory Commission (CSRC) in May reviewed IPO application documents from 64 companies, while 9 of them, or about 14 percent of the total, failed to get the approval to go public, the Xinhua-run China Securities Journal reported over the weekend.

The 14-percent rate was higher than the 12 percent in April and the 11.6 percent for the first five months of this year, the journal reported, citing data from Wind Info, a leading financial information provider.

Inability to generate sustainable profit growth and malpractices in business operations and information disclosure were among the main reasons for the IPO rejections, noted the report.

Under the current IPO system, new shares are subject to approval from the CSRC.

In a similar vein, the CSRC on Friday approved the IPO applications of four companies, fewer than the seven approved last week.

The four companies will raise no more than 1.5 billion yuan (about 220 million U.S. dollars), much less than the 2.3 billion yuan approved to be raised by the seven IPOs in the previous week.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58July 16 2018 12:52:14

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16July 16 2018 12:52:14

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18July 16 2018 12:52:14

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords