China regulator tells banks to pause IPOs: Report
It comes after regulators rolled out measures on Nov 2 to stabilise struggling capital markets.
Beijing – China's securities regulator has instructed investment banks to halt initial public offerings and suspend significant share sales by existing shareholders until market conditions improve, according to a report by The Financial Times on November 3. The China Securities Regulatory Commission convened meetings with investment banks, providing informal guidance over recent days, the report stated.
However, Reuters was unable to independently verify the information. The decision comes in the wake of a significant sell-off, with the blue-chip CSI300 Index experiencing an 8.5% decline in October, marking its worst monthly performance in over a decade. On November 2, Chinese regulators introduced several measures, including conducting swap operations and enhancing a lending facility for stock buybacks by listed companies, as part of their efforts to stabilize the troubled capital markets.
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