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China's securities regulator approves three IPOs

Published: June 22, 2019 10:36:36 | Updated: June 25, 2019 11:59:40


China Securities Regulatory Commission (CSRC) has approved the initial public offering (IPO) applications of three companies.

Jiangsu Shemar Electric Co, Ltd, Shanghai-based Quectel Wireless Solutions Co, Ltd, and Qingdao Guolin Environmental Technology Co, Ltd will be listed on the A-share market, the CSRC said in a statement.

It did not specify the total amount of funds to be raised, reports Xinhua.

The companies and their underwriters will confirm IPO dates and publish their prospectuses following discussions with the stock exchanges.

Under the current IPO system, new shares are subject to approval from the CSRC. China is gradually switching from an approval-based IPO system to one based on registration.

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