CSRC terminates review of 129 IPOs
The China Securities Regulatory Commission has terminated the review of 129 companies applying for initial public offerings out of 628 companies in line for approval on Aug 7, according to a report by Moneyweek.
The terminations mean about 270 private equity and venture capital institutions with stakes in those companies cannot exit by IPO and have to look for an alternative exit strategy.
Of the 129 companies, online game operator Beijing Kylin Culture Co Ltd ranked first in terms of the number of investors with 13 PE and VC institutions, followed by Dalian Wanda Commercial Properties Co Ltd and Chongqing Qinchuan Industry (Group) Co Ltd, each with 11 PE and VC institutions, according to financial data provider Shanghai Wind Information.
