China's securities regulator has approved new IPO applications from two companies, which will raise no more than 1 billion yuan (about 155 million U.S. dollars) in the A-share market.
Zhejiang Xinneng Solar Photovoltaic Technology Corporation Limited and Xinjiang East Universe Gas Corporation Limited will be listed on the Shanghai Stock Exchange, according to the China Securities Regulatory Commission (CSRC).
The two companies and their underwriters will confirm IPO dates and publish prospectuses following discussions with the exchanges.
Under the current IPO system, new shares are subject to approval from the CSRC.
China is gradually switching from an approval-based IPO system to one based on registration.
Zhejiang Xinneng Solar Photovoltaic Technology Corporation Limited and Xinjiang East Universe Gas Corporation Limited will be listed on the Shanghai Stock Exchange, according to the China Securities Regulatory Commission (CSRC).
The two companies and their underwriters will confirm IPO dates and publish prospectuses following discussions with the exchanges.
Under the current IPO system, new shares are subject to approval from the CSRC.
China is gradually switching from an approval-based IPO system to one based on registration.
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