Securities Regulator Denies All IPO Approvals on a Single Day for the First Time

The China Securities Regulatory Commission has taken the unprecedented step of denying all IPO applications brought before it on a single day.

On Wednesday 29 November CSRC refused all three of the listing applications brought before it, marking the first time in its history that the one day approval rate has fallen to 0.

The three companies were all applying for listing on Shenzhen’s second board, and included Chongqing Guangdian Shuzi (重庆广电数字传媒), Bola Wangluo Co., Ltd. (博拉网络股份有限公司) and Beijing Quanshi Tiandi Zaixian Wangluo (北京全时天地在线网络信息) all of which are new media or tech companies.

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