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China furniture companies in pipeline for IPO suspended by CSRC
    July 23,2014



 

The furniture companies that in the pipeline for initial public offerings (IPOs) are suspended by China Securities Regulatory Commission because of inadequate files. 

 

Yongyi, Qumei, A-Zenith, Red Star Macalline, Kuka, Fusen-Noble, Hengkang, and Nanxing Machinery are all appeared in the suspension list unveiled on July 4 by CSRC. The reason of the suspension is lacking of documents such as the updated financial files.

 

China's securities regulator on Friday announced around 100 initial public offerings (IPOs) from June to December this year.

 

To stabilize market expectations, the China Securities Regulatory Commission (CSRC) will balance the number of IPOs on a monthly basis, with no more than 20 each month, CSRC spokesman Deng Ge said.

 

The CSRC approved 10 IPO applications on June 9, the official restart of approvals after a four-month lacuna. Nine of them have started trading.

 

To address market concerns, the CSRC aims to keep new listings at a regular pace.

 

More than 600 firms are still in the pipeline for IPOs.

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