The China Securities Regulatory Commission is expected to restart approvals for initial public offerings (IPOs) in May at the earliest, after putting them on hold in late February, Securities Daily reported Wednesday, citing market insiders.
In response to market speculation about an imminent relaunch, the commission said no meeting has been held so far to review IPOs, and progress on the move is a bit behind because IPO applicants need to update their submissions to reflect their latest earnings and financial positions, the report said.
The securities regulator is also stepping up work on rules and measures to underpin the IPO reform, and a feedback period on the changes ended Monday, the paper said.
According to commission data, 675 companies are waiting for listing approval.
Commission chairman Xiao Gang said last week that IPOs had been paused — not halted — to allow companies to update their disclosures.
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