Source: China State Council Information Office
China’s top securities regulator has approved the initial public offering (IPO) applications of two companies.
China International Capital Corporation Limited, the country’s first joint-venture investment bank and Xin Hee Co., Ltd., a Fujian-based garment manufacturer, will be listed on the A-share market, the China Securities Regulatory Commission said in a statement.
The commission did not specify the total funds to be raised.
The companies and their underwriters will confirm IPO dates and publish their prospectuses following discussions with the stock exchanges.
China is gradually switching from an approval-based IPO system to one based on registration.