The China Securities Regulatory Commission (CSRC) has approved new IPO applications from three companies.
The applications of Zhejiang Merit Interactive Network Technology Co. Ltd., CSPC Innovation Pharmaceutical Co. Ltd., and Ningbo Ginlong Technologies Co. Ltd. have been granted, the CSRC said.
However, the securities regulator did not specify the amount to be raised, reports Xinhua.
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 market-oriented one based on registration.
