Long awaited move by Chinese government, finally a reality...
China's Shenzhen Stock Exchange will restart initial public offerings soon. This comes two years after being ordered by the government to suspend new listings.
"We are making final preparations for the restart of share offers, which should be very close," one official said, adding that new share issues will be dominated by small and medium-sized enterprises.
The move will pave the way for the launch of the long-awaited second board market aimed at helping small and medium-sized and high-tech enterprises gain access to capital, the officials said.
The stock exchange started trying a trading system for new share offers this week, a move seen as heralding an imminent resumption of IPO issues.
The move should clear a huge backlog of companies queuing up to launch share issues.