BEIJING, June 13 (Xinhua) -- China's top securities regulator has approved the initial public offering (IPO) applications of five companies.
Hainan Huluwa Pharmaceutical Group Co., Ltd., Jiangxi Guoguang Commercial Chain Co., Ltd., HG Technologies Co., Ltd., Zhejiang Jinsheng New Materials Co., Ltd. and Miracll Chemical Co., Ltd. will be listed on the A-share market, the China Securities Regulatory Commission (CSRC) said in a statement.
The companies and their underwriters will confirm IPO dates and publish their prospectuses following discussions with the stock exchanges.
Under the current IPO system, new shares are subject to approval from the CSRC. China is gradually switching from an approval-based IPO system to one based on registration. Enditem