China lifts IPO freeze

Domestic initial public offerings are expected to resume on June 5 with China CAMC Engineering Co. Ltd floating 60 million shares, state media reported. It will signal an end to a freeze on IPOs that began in May 2005, as China's listed companies stepped up efforts to transform some US$250 billion in state-held holdings into freely traded stocks. The lift was announced as the nationwide reform program nears completion, state media said. Future IPOs are subject to rules on the sales of shares published in April.