47 IPOs were dropped in China this year due to strict regulations

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MUMBAI: With regulatory norms tightening in China, many companies have shelved their plans for public offerings of equities (IPOs) this year.

The China Securities Regulatory Commission called for regulatory opinions from market participants on share listing standards in a bearish market and fined a company for fraudulent listings. The Commission has taken various measures to restore investor confidence while China's main indices have been volatile for the past five years.

Due to regulatory measures, 47 companies have shelved their plans for IPO so far this year, compared to 29 in the same period last year. Huge penalties are being levied from listed companies for accounting fraud.

The number of IPO withdrawals hit a new high as a result of strict regulatory measures, a report said.

In 2022, Chinese companies raised 587 billion yuan through 424 IPOs, which decreased to 356 billion yuan through 313 companies in 2023.

It is to be mentioned here that the Chinese authorities have recently announced several incentive measures to provide momentum to the country's stock market. The once-dominant sell-off of Chinese equities in the global IPO market appears to be waning.

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