Seventeen regional commercial banks have applied to make flotations that could raise up to $14 billion, as China’s financial regulators continue to relax requirements for firms looking to go public.
The China Securities Regulatory Commission still has to approve all companies listing on the country’s two stock exchanges, which analysts say has led to price distortions from controlled share supplies, but has made significant progress within the last year in speeding up the approval process.
Sixteen of the 17 regional banks have already passed the first stage of the process. According to Financial Times estimates, the IPOs could attract between $6 billion and $14 billion.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved