Caixin OnlineFinance & EconomicsTop Stories Finance Tighter Scrutiny of IPO Hopefuls 'Meant to Cut Backlog'
01.10.2013 17:54

Tighter Scrutiny of IPO Hopefuls 'Meant to Cut Backlog'

Some at securities firms say regulator is getting tough now only because a record number of companies crowd the application line
By staff reporters Zheng Fei and Liu Ran

(Beijing) – Employees of securities firms are concerned by the regulator's intention to tighten reviews of initial public offerings, and two said the move is designed to reduce the number of listing applicants because there were too many.

All of the 882 companies waiting for China Securities Regulatory Commission (CSRC) approval to go public have been required to submit their financials for 2012 by the end of March. The regulator said it would check the results at randomly chosen firms to prevent fraud.

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