China securities regulator approves new batch of 28 IPOs

[SHANGHAI] China's securities regulator said it has approved a new batch of 28 initial public offerings.

Ten companies will be listed on the Shanghai Stock Exchange , another 10 will float on Shenzhen's SME board, which hosts small- and medium-sized enterprises, and eight firms will be publicly traded on Shenzhen's start-up board ChiNext , the China Securities Regulatory Commission (CSRC)said on its official microblog late on Wedesday.

CSRC in April started greenlighting two batches of IPOs each month, compared with one previously, as the regulator increases share supplies in a red-hot stock market.

The latest batch of companies to launch IPOs include Anji Foodstuff Co Ltd, Duzhe Publishing & Media Co and Sichuan Jiuyuan Yinhai Software Co Ltd.

The companies, their underwriters and the stock exchanges will determine when they will launch IPOs, CSRC said.

REUTERS