First driver-training firm to launch IPO

Eastern Pioneer Driving School Co Ltd is set to become the country's first publicly traded learner center after its initial public offering on Friday.

The Beijing company, which has a leading 20 percent share of the capital's driver-training market, is listing 50 million shares on Shanghai Stock Exchange.

The school is among the first batch of companies to go public after new IPO rules were approved by the China Securities Regulatory Commission, which will see the removal of full subscription payments before share sales.