(Yicai Global) March 4 -- China will resume its initial public offering procedures this week after their disruption by the novel coronavirus pneumonia outbreak, with the first IPO review in this Year of the Rat to be by video, according to reports by various media today.
The CSRC had suspended such meetings to prevent contagion as the epidemic spread, but then announced on Feb. 28 the first review will examine two applications on March 5.
The virus has not brought examinations to a complete halt. The commission has granted several IPO approvals each week during the virus and issued two to three in the past two.
A total of 423 companies awaited approval of their applications as of Feb. 27, excluding those applying to list on the Shanghai Stock Exchange's Nasdaq-style Star Market, with 160 seeking a debut on the main board, 77 on the small and medium enterprise board, and 186 on the growth enterprise index.
The Star Market will also restart its procedures with both face-to-face and video interviews. Its listing committee will evaluate the bids of Trina Solar and Jinbo Carbon on March 11 in the morning and afternoon, respectively.
The SSE has special measures in place to reduce the virus' impact on IPO evaluations for the new sci-tech board, such as enhanced phone and internet communications, eased restrictions on its response time to inquiries, flexible means of signing, alternatives to on-site reviews for intermediaries, and fast-tracked acceptance and review of applications by firms active in fighting the epidemic.
Editor: Ben Armour