Financials Mar 29, 2021 05:52 PM (GMT+8)
This year, 73 Chinese companies have voluntarily withdrawn their IPO applications so far. This decision was either taken by the companies or suggested by the investment banks. During the same period in 2020, the companies whose admission were terminated due to the voluntary withdrawal of IPO applications were just two. Industry insiders believe that most of the withdrawing companies do not meet the listing requirements in terms of standardization. In this regard, investment banks are also criticized for not always acting as per regulations. The China Securities Regulatory Commission (CSRC) has recently amended its rules on conducting administrative licensing procedures.
This briefing is contributed by and first appeared on CIMK.