BEIJING, May 7 (Xinhua) -- China's securities regulator has approved new IPO applications from two companies, which will raise up to 1.1 billion yuan (about 170 million U.S. dollars) in the A-share market.
One company will be listed on the Shanghai Stock Exchange, and the other will be listed on the ChiNext board in Shenzhen, the China Securities Regulatory Commission (CSRC) said Friday.
The firms and their underwriters will confirm IPO dates and publish prospectuses following discussions with the 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 a more market-oriented one based on registration.
A single purchase
