Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Indexes  >  CHINA-Shanghai Comp       

SummaryChartsNewsAnalysisHeatmapComponents 
News SummaryAll newsNews of the componentsTweets 

China Regulator Says 16 Firms Withdraw IPO Plans

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/04/2013 | 07:25am CET

SHANGHAI--Sixteen companies have abandoned plans to list their shares on one of the nation's stock exchanges since late December, the China Securities Regulatory Commission said.

Eleven companies have withdrawn their applications to list on the start-up board and five firms had scrapped plans to list on one of the nation's two main boards, the regulator said in separate statements posted on its website Friday. It didn't explain the decisions or give details about the firms' financial performances.

But lengthy waiting periods for approval and a still weak stock market may have been factors in the decisions.

Since October, the CSRC halted all approvals for initial public offerings, citing concerns about a potential share glut that would further weigh on an already lackluster equity market. The regulator also heightened scrutiny of IPO hopefuls after the poor showing of some companies after they went public.

Official data show there were 873 companies waiting for IPO approval as of Jan. 31. The CSRC has asked underwriters and auditors working on possible share sales to submit inspection reports by March 31, effectively raising the regulatory threshold for new deals.

The slow pace of regulatory approvals for new listings in China is driving firms to consider other options, such as choosing an overseas venue or using smaller over-the-counter equities markets.

The companies that have given up plans for a public offer include titanium supplier Zunyi Titanium and tea producer Anxi Tieguanyin Group, both of which had planned to list on the Shenzhen stock exchange. A number of smaller technology firms were among those abandoning plans to join the start-up bard.

The benchmark Shanghai Composite Index slumped to nearly a four-year low in December and lost 31% over the past three years though it has rallied sharply in recent weeks.

Write to Esther Fung at esther.fung@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CHINA-SHANGHAI COMP
12:01pDJASIA MARKETS : Asian Markets Mainly Higher After Trump Pulls U.S. Out Of TPP
04:48aDJASIA MARKETS : Asian Markets Cool After Trump Pulls U.S. Out Of TPP
01/23DJASIA MARKETS : Nikkei Lags While Other Asian Markets Make Gains
01/20DJStocks, Bond Yields Rise Ahead of Trump Inauguration
01/20DJStock Futures, Bond Yields Rise Ahead of Trump Inauguration
01/20DJStocks Await Trump Inauguration -- 3rd Update
01/20DJASIA MARKETS : China Stocks Gain On Economic Data; Other Asian Markets Mostly Lo..
01/20DJStocks Await Trump Inauguration -- 2nd Update
01/20DJStocks Await Trump Inauguration -- Update
01/20DJStocks Slip Ahead of Trump Inauguration
More news
News of the components of CHINA-SHANGHAI COMP
05:50p CHINA RAILWAY CONSTRUCTION : Buhari pays N72b to China for Lagos-Ibadan railway
05:36p CHINA RAILWAY CONSTRUCTION : Rail Cons new contracts value up 28.5% in 2016
03:58p CHINA COAL ENERGY COMPANY LIMITED : - Appointment of Chief Financial Officer
03:47p CHINA STATE CONST ENG : CSCEC Wins the PPP Project for the World's Largest Under..
03:47p CHINA STATE CONST ENG : Gabonese President Cuts the Ribbons for the Inauguration..
03:47p CHINA STATE CONST ENG : CSCEC Vice President Meets with Deputy PM of Malaysia
11:54a CHINA PETROLEUM & CHEMICAL : jails former Sinopec president for 15-1/2 years ove..
More news
Advertisement
Chart CHINA-SHANGHAI COMP
Duration : Period :
CHINA-Shanghai Comp Technical Analysis Chart | 4-Traders
Full-screen chart
Technical analysis trends CHINA-SHANGHAI COMP
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Technical analysis
Top / Flop CHINA-SHANGHAI COMP
GUANGXI FENGLIN WOOD INDUST.. 11.53 End-of-day quote.10.02%
CHANGCHUN YIDONG CLUTCH CO... 47.34 End-of-day quote.9.99%
FUJIAN CEMENT INC. 10.73 End-of-day quote.6.98%
SHANGHAI PHOENIX ENTERPRISE.. 32.26 End-of-day quote.6.61%
SHANGHAI TIANCHEN CO., LTD 14.92 End-of-day quote.6.27%
P2P FINANCIAL INFORMATION S.. 11.11 End-of-day quote.-5.93%
HUBEI YANGFAN HOLDING CO LT.. 21.09 End-of-day quote.-6.14%
CHANGCHUNJINGKAI (GROUP) CO.. 12.87 End-of-day quote.-8.33%
WINSAN SHANGHAI MEDICAL SCI.. 12.18 End-of-day quote.-9.04%
CHINA FIRST HEAVY INDUSTRIE.. 4.66 End-of-day quote.-9.86%
More Top / Flop
Heatmap :
Detailed heatmap