SHANGHAI (Reuters) - Five Chinese firms announced on Monday that they had postponed their initial public offerings (IPOs) after China’s stock regulator said overnight it would strengthen its supervision of IPOs.
The companies, all of which planned to list on China’s Shenzhen stock exchange, made the announcements in filings to the exchange.
The China Regulatory Commission said in a statement late on Sunday that it would strengthen its supervision of IPOs, after a small drug maker postponed its share sale saying it was “too big”.
The stock watchdog, which had promised a more hands-off approach to IPOs after resuming them earlier this month following a 15-month hiatus, said it will step up monitoring of the deals and their pricing.
Reporting by Lu Jianxin and Pete Sweeney; Editing by Richard Pullin