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BEIJING, July 21 (Xinhua) -- China's top securities regulator has approved the IPO applications from a company in the A-share market.
S.C. New Energy Technology Corporation will be listed on the Shenzhen Stock Exchange, according to the China Securities Regulatory Commission (CSRC).
The CSRC did not disclose how much money the company will raise from the IPO.
The company and their underwriters will confirm IPO dates and publish prospectuses following discussions with the exchanges.
Under the current IPO system, new shares are subject to approval from the CSRC.
China is gradually switching from an approval-based IPO system to one based on registration.
