Shanghai to resume IPOs starting with Everbright Securities
The Shnaghai stock exchange is next month expected to restart IPOs, after being suspended for over half a year due to the market conditions.
The Shanghai Composite Index has gained now 35 percent this year, making it the world's second-best performing market, with average PE ratio for A-shares of 20.18. In the past, IPOs have been resumed five times when PE ratio reached an average level of 19.29.
According to Ifeng.com, Everbright Secrities, which is planning a listing in Mid-May, will be the first. The China Securities Regulatory Commission originally approved Everbright Securities’s IPO application on 30 June, 2008.
Dazhong Transportion (Group) Co. (SH:600611), which has a stake in Everbright Securities, advanced 7.4 percent.
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