Deals
China Approves $353 Million of Share Sales as IPOs Resume
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China’s securities regulator approved the initial public offerings of five companies seeking to raise about $353 million, paving the way for share sales to resume after a freeze of more than one year.
Neway Valve (Suzhou) Co. received approval for a first-time sale in Shanghai that could seek about 839 million yuan ($138 million) and will start marketing its shares early next month, the maker of industrial valves said in statements to the Shanghai Stock Exchange yesterday. Truking Technology Ltd., Guangdong Qtone Education Co., Guangdong Xinbao Electrical Appliances Holdings Co. and Zhejiang Wolwo Bio-Pharmaceutical Co. secured approval to list on the smaller Shenzhen exchange, separate filings by the companies showed.