Date
12 December 2017

18 more firms move step closer to mainland listing

The China Securities Regulatory Commission appears to be close to final approval of a new batch of mainland listings with the release online Monday of the preliminary IPO documents of 18 more firms, bringing the total to 46, the Shanghai Securities News reported Tuesday, citing information posted on the regulator’s website.

Of the 18, seven opted to list on the Shanghai Stock Exchange, six on the Shenzhen Stock Exchange, and the rest on the Growth Enterprise Market. In total, 23 chose Shanghai, with 10 switching their initial plans to list in Shenzhen.

The new additions include Wanda Cinema Line Corp., Hua An Securities Co., Ltd., Shanghai Laiyifen Co., Ltd. and Kuaijishan Shaoxing Rice Wine Co., Ltd. Most of the applicants will issue less than half — and in some cases none — of their IPO shares from existing stock, in line with the regulator’s demand.

Wanda Cinema Line, which aims for a Shenzhen initial public offering, plans to issue up to 60 million IPO shares to raise 2 billion yuan (US$321.13 million). Hua An Securities plans to issue up to 800 million IPO shares on the Shanghai Stock Exchange, according to the documents.

– Contact HKEJ at [email protected]

TL/AC/SK

 

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