China to maintain steady IPO issuance

BEIJING - China will maintain a generally steady pace in greenlighting the applications of initial public offerings (IPOs) on the basis of ensuring stable market operation, Shanghai Securities News reported Monday.

Issuance of the IPOs will not be suspended due to various factors, nor will they be done in large batches or a centralized manner, the report said, quoting sources from authorities.

The China Securities Regulatory Commission (CSRC) has been advancing the issuance of new IPOs in a regular way since the outbreak of the novel coronavirus disease, leveraging the capital market's role in supporting epidemic prevention, work resumption and development of the real economy.

Related departments are mulling rules on handling interim performance fluctuations due to the epidemic and will enhance the capital market's resilience in forestalling risks, according to the report.

Since the beginning of the year, the CSRC has given nod to the IPO applications of 44 companies and approved the registration of 23 IPOs in the sci-tech innovation board.

To date, 57 companies have completed the issuance, raising a total of 82.38 billion yuan ($11.7 billion), according to the report.