Citing cruelty, celebs oppose IPO

BEIJING - More than 70 public figures have signed a petition opposing an application for listing on the Shenzhen Stock Exchange submitted by a pharmaceutical company that makes medicine from bear bile.

The company, Guizhentang Pharmaceuticals, extracts bile from captive bears to make traditional Chinese medicines. Founded in 2000, the company is among 220 awaiting approval by the Growth Enterprise Board, according to the China Securities Regulatory Commission.

On Tuesday, the Ta Foundation, a private foundation concerned with animal welfare, submitted an appeal signed by 72 public figures, including well-known lawyers, TV hosts, actors and animal rights advocates.