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Two Companies to Make IPOs
The China Securities Regulatory Commission has approved two companies to make their initial public offerings of common stocks in Renmenbi yuan, or A shares.
The Sanxia New Building Material Co., Ltd. from Dangyang city of Hubei Province in central China is offering 55 million shares at 8.3 yuan per share, with a price-earning ratio of 39.
The Nanjing Central Department Store in east China's Jiangsu Province is offering 35 million shares at 6.36 yuan per share, with a price-earning ratio of 32.
Both stocks are expected to be listed on the Shanghai Stock Exchange.
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