CSRC reopens IPO market to 10 firms

The China Securities Regulatory Commission will allow 10 companies to list on mainland bourses after a five-month hiatus, The Wall Street Journal reported, citing a statement by the regulator on Monday. Of the 10 firms, five will list on the Shanghai Stock Exchange and the remaining five on the Shenzhen Stock Exchange. The move offers companies a much-needed funding channel as economic growth slows. It also comes after the CSRC tightened IPO regulations on June 7, one of which will restrict share issuers and holders from selling their stock below the IPO price.