China on Friday officially extended a registration-based IPO system to the country’s two largest stock exchanges in Shanghai and Shenzhen, giving markets and investors a greater say in deciding the value of companies looking to raise capital.
The new system, whose draft rules were first published on Feb. 1, will simplify listing requirements, ensure strict disclosure of information, effectively prevent risk, and set different requirements for IPOs in different bodies, according to the China Securities Regulatory Commission (CSRC). ) said Friday.
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