China’s securities regulator gave approvals for five companies to sell shares publicly in Shanghai and Shenzhen, Bloomberg reported Tuesday, citing company statements to the stock exchanges. Neway Valve, Guangdong Xinbao Electrical Appliances Holdings, Truking Technology, Guangdong QTone Education and Zhejiang Wolwo Bio-Pharmaceutical said they received approvals for initial share sales. About 50 companies are expected to complete the IPO approval preparations and list or be ready to do so by the end of January, the China Securities Regulatory Commission said last month. China put a freeze on IPOs in October 2012 to crack down on fraud and misconduct among advisers and companies, the report said.
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