China's four-month ban on initial public offerings was lifted on Friday, providing further evidence that the country is putting the summer's market scares behind it as shares stabilise.
It said 10 of these companies would likely go through the necessary legal procedures in the next two weeks, while the other 18 were set to float before year-end. Among the companies featured are Readers Publishing Media, Shenyang Taoli Bread, and Anji Food.
The CSRC announcement comes at a time when Chinese stock markets have rallied, reassuring the government that the worst is past after local stock indexes at one point tumbled some 40% from their mid-June peaks.
“It is good news as the government has restored the capital market’s function for financing,” Hong Hao, chief strategist at Bocom International, told FinanceAsia.
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