Share prices on the Shanghai and Shenzhen bourses are likely to be under pressure in a short term as the regulator's decision to approve more IPOs from this month. Investors will be allowed to subscribe for new shares from 25 companies after May Day holiday (May 1-May 3).
China's securities regulator on Thursday approved the second batch of 25 IPO applications for the month, following its approval of 30 applications on April 2. Two batches of IPO applications instead of one will be approved every month from now on, the China Securities Regulatory Commission (CSRC) said. The CSRC has approved 123 IPOs this year. The quickened pace means the authorities are acting in accordance with the market, analysts said, citing the rapid recent rise in the Chinese stock market and the need for business financing.
Latest comments