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Securities regulator: China to resume IPO after June 5 |
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20:38, May 22, 2009 |
The China Securities Regulatory Commission (CSRC) said Friday it would end a de facto suspension of initial public offerings (IPOs) on the Shanghai and Shenzhen stock exchanges as of June 5.
The CSRC released draft guidelines that said the quotation system for new issues should be revised so that issue prices faithfully reflected market demand, and lead underwriters should take steps to avoid "unreasonably" high prices.
Public comments will be accepted on the guidelines until June 5. The draft guidelines will be revised at an unspecified date after IPOs resume.
The CSRC effectively suspended all new stock issues last September, as it then halted approvals of such issues.
Source: Xinhua
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