Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Indexes  >  CHINA-Shanghai Comp       

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
02/04/2013 | 07:25am CEST

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Eleven companies have withdrawn their applications to list on the start-up board and five firms had scrapped plans to list on one of the nation's two main boards, the regulator said in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
03/28DJASIA MARKETS : Asian Markets Bounce Back As Oil Price Rise
03/22DJASIA MARKETS : Nikkei Falls 2% As 'Trump Trade' Doubts Hit Asia Markets
03/20DJASIA MARKETS : New Zealand's Slide Leads Declines In Asia-Pacific Markets
03/17DJASIA MARKETS : Asian Markets Largely Retreat Ahead Of G-20 Meeting
03/16DJASIA MARKETS : Asian Markets Roar To Life After Fed Hikes Rates
03/15DJASIA MARKETS : Asian Markets Dip Lower, Awaiting Fed News
03/13DJASIA MARKETS : Asian Markets Mixed Ahead Of Busy Week For Central Banks
03/09DJASIA MARKETS : Asian Markets Mostly In The Red, As China's Inflation Hits 2-year..
03/09DJASIA MARKETS : Asian Markets Mostly In The Red, Awaiting U.S. Economic News
03/08DJASIA MARKETS : Asian Stocks Steady As Investors Keep Wary Eye On Wall Street
More news
News of the components of CHINA-SHANGHAI COMP
06:44a CRRC bonanza as railcars to supply US rail systems
04:50a CHINA STATE CONST ENG : VP of CSCEC Works Shortly in the US, Bahamas, Jamaica an..
04:50a CHINA STATE CONST ENG : Chinese Premier and Australian PM Witness the Signing of..
04:45a CHINA STATE CONST ENG : CSCEC 6th Bureau Wins the PPP Project for Yangtze River ..
03:35a CHINA PETROLEUM & CHEMICAL : Sinopec acquires Chevron’s downstream assets ..
02:39a BANK OF CHINA : SA to promote Special Economic Zones in China
More news
Duration : Period :
CHINA-Shanghai Comp Technical Analysis Chart | 4-Traders
Full-screen chart
Technical analysis trends CHINA-SHANGHAI COMP
Short TermMid-TermLong Term
Technical analysis
YINGKOU PORT LIABILITY CO.,.. 3.93 End-of-day quote.10.08%
FUJIAN EXPRESSWAY DEVELOPME.. 4.06 End-of-day quote.10.03%
HEILONGJIANG TRANSPORTATION.. 6.27 End-of-day quote.10.00%
NINGBO MARINE COMPANY LIMIT.. 6.6 End-of-day quote.10.00%
LONGJIAN ROAD & BRIDGE CO.,.. 7.6 End-of-day quote.9.99%
NINGBO VEKEN ELITE GROUP CO.. 11.81 End-of-day quote.-6.86%
DAHUA GROUP DALIAN CHEMICAL.. 0.668 End-of-day quote.-7.22%
SHANGHAI TONGDA VENTURE CAP.. 32.22 End-of-day quote.-7.23%
SHANGHAI HUILI BUILDING MAT.. 1.21 End-of-day quote.-7.42%
HUBEI WUCHANGYU CO., LTD 13.19 End-of-day quote.-8.21%
More Top / Flop
Heatmap :
Detailed heatmap