China approves two new IPO applications

Source: Xinhua| 2020-10-05 13:16:49|Editor: huaxia

BEIJING, Oct. 5 (Xinhua) -- China's top securities regulator has approved the initial public offering (IPO) applications of two companies.

Xinjiang Hongtong Natural Gas Co., Ltd. and Zhejiang Dayang Biotech Group Co., Ltd. will be listed on the A-share market, the China Securities Regulatory Commission said in a recent statement.

The commission did not specify the total funds to be raised.

The companies and their underwriters will confirm IPO dates and publish their prospectuses following discussions with the stock exchanges.

China is gradually switching from an approval-based IPO system to one based on registration. Enditem