China's securities watchdog scares away IPO applicants

Guizhou Zunyi Titanium cancels its A-share IPO application. As many as 200 other companies are expected to follow suit.

China's securities watchdog scares away IPO applicants

Only a day after China’s securities regulator announced it would closely vet the financial statements of listing hopefuls, companies started withdrawing their applications for new share sales.

The reaction has stirred speculation about how many companies that have already listed actually have “real, accurate and complete” documents, as required in the latest communication from officials.

Guizhou Zunyi Titanium, a titanium sponge producer, announced on Thursday that it would cancel its long-awaited initial...

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