China Gets Tougher on IPOs

Article Excerpt

BY SHEN HONG

SHANGHAI?In the five years since it joined a long queue of companies applying for government approval to list on the Shenzhen Stock Exchange, Zunyi Titanium Co.'s fortunes have plummeted.

The state-owned company in China's southwestern Guizhou province reported a financial loss for the first nine months of last year, blaming it on fierce competition, and disclosed it has been booted out of its factories by the local government.

In late December, Zunyi announced it was giving up its attempt to list on the smaller of China's two stock exchanges, without elaborating.

It isn't alone. The China Securities Regulatory Commission said ...

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Source: http://online.wsj.com/article/SB10001424127887323864304578318101227205828.html?mod=rss_world_markets

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