Chinese regulators resort to suspension of IPOs

The securities regulator, turning off the IPO spigot for the ninth time, said it will continue to review listings applications but there will be no IPOs "in the near future".

Beijing suspended new share sales over the weekend to “stabilize” the country’s volatile stock markets, which plunged by nearly 30% in the three weeks to July 3.

China Securities Regulatory Commission CSRC spokesman Deng Ge announced late on Sunday night that there would be no initial public offerings in the near future.

Although the securities regulator will not stop reviewing IPO applications, the number of IPOs and the size of fundraising will be significantly reduced, he added.

The CSRC announcement came after 28 Chinese companies on Saturday agreed to “voluntarily” postpone their IPO plans, with most attributing the decision to the...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222