Applications for A-share initial public offerings (IPO) submitted by three companies will be reviewed by the China Securities Regulatory Commission (CSRC) next Monday after a three week hold-up.

 

The CSRC, the country's securities market watchdog, made the announcement in its latest circular.

 

The three companies, Dalian Zhangzidao Fishery Group Corporation, Zhejiang Dongliang New Material Corporation and Zhejiang Jiakang Electronics Corporation, will each issue less than 30 million shares, according to their IPO plans.

 

All three companies plan to list on the Shenzhen Stock Exchange.

 

The CSRC's issuance examination board suspended the IPO review for three weeks while waiting for the applicants' half-yearly reports.

 

Analysts predict that in the future, small and medium-sized companies will account for most newly-audited IPOs, so the stock composite index will not be greatly affected.

 

Some heavyweight Chinese firms, such as the Industrial and Commercial Bank of China, the country's biggest commercial bank, and China Mobile, are likely to issue shares on the mainland in the next 12 months.

 

The planned listing of those giant firms is part of the government's strategy to stabilize the domestic stock market and make it more attractive.

 

(Xinhua News Agency August 17, 2006)