Apple News Facebook Twitter 新浪微博 Instagram YouTube Wednesday, Mar 15, 2023
Search
Archive
English>>

Chinese authorities reject more IPO applications

(Xinhua)    16:07, June 10, 2017

BEIJING, June 10 (Xinhua) -- China's securities regulator has rejected more initial public offering (IPO) applications in a bid to improve the quality of listed firms and protect investors' interests.

The China Securities Regulatory Commission (CSRC) vetoed IPO applications from 24 companies from the start of this year to May 19, up from 18 in the January-April period, according to a CSRC statement.

Another 45 companies withdrew their applications, while 188 were approved, said the CSRC.

Abnormal financial conditions, inability to generate sustainable profits and questionable authenticity of application documents were among the reasons for the rejections.

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

The commission said it will continue to strengthen IPO regulation and keep a close eye on the practices of faking documents and dressing up company performances.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Ma Danning, Bianji)

Add your comment

We Recommend

Most Read

Key Words