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China OKs first major IPO in 10 months - source
Updated: 2009-07-01 15:40

BEIJING: Chinese regulators have given Sichuan Expressway (0107.HK) final approval to issue 500 million yuan-denominated A shares to be floated on the Shanghai Stock Exchange, the country's first major IPO since last September, a source familiar with the deal said on Wednesday.

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China had recently given approval to three smaller companies, including traditional Chinese medicine maker Guilin Sanjin Pharmaceutical Co, to launch offerings on the Shenzhen Stock Exchange after lifting a quiet ban on IPOs.

IPOs were suspended last year during a market slump.