7 out of 18 new shares fell in July

Seven out of the 18 shares that were first listed in the mainland last month have fallen below their issue prices, China Securities Journal reported on Wednesday.

Eighteen companies began selling their shares publicly in July, raising more than 13.4 billion yuan ($2.1 billion). And seven of them slid below their issue prices on the first days of their debut, showing that the market has begun to adapt to new regulations governing IPOs, the journal said.

Regulators have pushed for reforms to the IPO system and have taken measures to curb speculation in purchases of new shares. In an important change, issuers will be allowed to work directly with underwriters to determine IPO prices. The commission is encouraging companies to experiment with new ways of setting share prices.

Yingbang Clad Material Co Ltd, one of the newly listed companies, saw its share value decline 14.8 decline upon its debut. But decreases weren't the common lot of all companies

Motimo Membrane Technology Co Ltd saw its share price increase by 92 percent on its day of debut.

All of the IPOs conducted in July in the mainland had a total value of 14.33 billion yuan. By the end of the month, though, that amount had decreased to 12.8 billion yuan, down more than 1.5 billion yuan.