World Economy

China Approves 24 New IPOs

China Approves 24 New IPOsChina Approves 24 New IPOs

A total of 24 companies were given the green light to make initial public offerings (IPO) on China’s equity market, Asia First reported. China Securities Regulatory Commission (CSRC) approved the application of the 24 companies, the first round of IPO approval in the Lunar New Year. Twelve of the approved companies will be listed on the Main Board of the Shanghai Stock Exchange, four on the Shenzhen SME Board, and eight on the ChiNext board of the Shenzhen Stock Exchange. A total of 125 IPO applications were approved last year while 654 are still waiting for approvals.