China Gives Green Light To Six IPOs Despite Market Volatility

The China Securities Regulatory Commission approved plans for six initial public offerings, the first IPOs since Shanghai’s benchmark equity index fell into a bear market a couple of weeks ago.

The regulator’s move is contrary to earlier expectations that the CSRC might consider suspending IPOs to stabilize the country’s tumbling stock markets.

Six IPOs cleared

According to a statement published on its website Wednesday, the CSRC indicated that it had approved IPOs for six companies, including Bank of Jiangsu. Nanjing-based Bank of Jiangsu, the country’s third-largest regional commercial bank, will become the...