China approves first IPOs under new listing rules

China’s securities regulator approves seven initial public offerings, the first batch since it implemented new listing rules.

China’s securities regulator on Tuesday approved seven initial public offerings, the first under new listing rules introduced at the start of the year that are an important step towards a registration-based system.

Three companies including Eastern Pioneer Driving School and Southern Publishing and Media Company will list on the Shanghai Stock Exchange, according to a statement by the China Securities Regulatory Commission posted on its website.

Four other firms will go public in Shenzhen either on the ChiNext board or on the Small and Medium Enterprise board. 

Under the new IPO rules, retail and institutional investors can pay for the...

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