China okays seven IPOs to raise $416m

SHANGHAI: China’s securities regulator has said it has approved seven initial public offerings (IPOs) that aim to raise a combined total of up to 2.8 billion yuan ($416.22 million). Three of the approved IPOs are on the Shanghai bourse, two are on the Shenzhen small and medium enterprise board, and two are on the start-up ChiNext board, the China Securities Regulatory Commission said in a statement on its official microblog. — Reuters