Regulator to manage IPO pace
The Chinese securities regulator said that it will “appropriately manage” the pace of new share sales to stabilize investors’ anticipation, underscoring the regulator’s desire to contain more fluctuations after the market rebounded.
The regulator’s statement came after the benchmark Shanghai Composite Index suffered a 10 percent loss in a week, with market shutdowns on Jan 4 and Jan 7 triggered by the circuit-breaker mechanism. On Jan 8, the benchmark Shanghai index surged by 1.97 percent after the securities authorities suspended the mechanism the night before. The mechanism was blamed for worsening liquidity crunch in the market.
Deng Ge, the spokesman for the China Securities Regulatory Commission, said at a news conference that the regulator will appropriately arrange the new share sales based on the principle of enhancing trading vitality and stabilizing the market.