China resumes bourse fund-raising soon
(Reuters)
Updated: 2006-04-17 09:40
SHANGHAI, China -- China's stock regulator said it would soon allow the
resumption of fund-raising on the Shanghai and Shenzhen stock exchanges after an
11-month suspension, as the country's reforms to float non-tradable government
holdings in listed companies had seen some success.
The China Securities Regulatory Commission said the sequence for the
resumption would be private placements, rights shares and then initial public
offerings, according to a statement published on its Web site (www.csrc.gov.cn).
China suspended all fund-raising on domestic bourses in last May to support a
program to convert $250 billion in non-traded state shares in listed companies
into regular traded shares.
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