February 16, 2016 / 9:55 AM / 3 years ago

China securities regulator approves nine initial public offerings

Investors look at an electronic board showing stock information at a brokerage house in Hangzhou, Zhejiang province, China, November 27, 2015. REUTERS/Stringer

SHANGHAI (Reuters) - China’s securities regulator said on Tuesday it has approved nine initial public offerings, including four in Shanghai and five in Shenzhen.

The companies and their underwriters will determine when to launch IPOs with Shanghai and Shenzhen stock exchanges, the China Securities Regulatory Commission (CSRC) said in a statement on its official microblog.

No information was available about how much the nine companies aim to raise through selling shares.

In late January, China’s first initial public offering under rules introduced on Jan. 1 that make listings easier was oversubscribed more than 4,000 times, showing Chinese investors remained hungry for IPOs despite recent market gyrations over growing economic concerns.

Reporting by Samuel Shen and Nathaniel Taplin; Editing by Richard Borsuk

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