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China stock regulator gives nod for 5 IPOs worth $1 billion

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Staff Writer | January 22, 2018
China's stock market regulator has approved five new initial public offerings (IPOs), which will aim to raise 6.7 billion yuan ($1.05 billion).
China stock market
Asia   China has been accelerating IPO approvals
Zoy Home Furnishing Co, Jiayou International Logistics Co and Hebei Yangyuan Zhihui Drinks Co will all list on the main board of the Shanghai Stock Exchange, said the China Securities Regulatory Commission (CSRC).

Yujiahui Co, an corporate internet technology provider, and the Nanjing Julong Science and Technology Co, which provides engine components and electrical equipment for vehicles, will list in Shenzhen.

China has been accelerating IPO approvals as part of efforts to broaden direct finance and help companies reduce debt leverage.

In the first 10 months of last year, regulators approved 359 IPOs, already exceeding the annual record of 347 in 2010.