BEIJING, April 3 (Xinhua) -- Financing via initial public offerings (IPO) and refinancing on China's A-share market exceeded 300 billion yuan in the first quarter despite the COVID-19 outbreak, reported Securities Times Thursday.
In the first quarter, 41 companies filed IPO applications, and 39 companies were nodded by China Securities Regulatory Commission (CSRC).
Fund raised by the IPO of the new listings in China's A-share market hit 78.62 billion yuan.
For existing listed firms, their refinancing reached 222.44 billion yuan, including 153.97 billion yuan of follow-on offerings, 41.68 billion yuan by convertibles issuance, 7.74 billion yuan by preferred stock offerings and 19.06 billion yuan of rights issue.
Besides, the newspaper reported market hearsay that Chinese securities regulator would speed up approval of IPO and refinancing applications by firms from regions hit hard by the epidemic and firms engaged in epidemic prevention and control business to further boost the epidemic fight.
Liu Zhe, deputy director of think tank WANB Institute told the newspaper that CSRC's "window guidance" to securities brokers was emergency measure amid the epidemic period and was expected to benefit liquidity supplement and production resumption of the two types of enterprises. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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