PE-backed pair among five Chinese IPOs give go-ahead after 12-month moratorium


stocks2_lrgA pair of private equity-backed businesses have been given the green light to list on mainland Chinese stock exchanges following a year-long moratorium on IPOs.

They are Zhejiang Wolwo Pharma, which has investors including Orica Capital, Shanghai Lehel Capital and Shenzhen Fortune Venture Capital, and Suzhou International Development Venture Capital-backed Neway Valve according to AVCJ.

Three other Chinese companies have been given approval to list in mainland China, which will give a boost to the 750-plus other businesses with pending IPO.

Neway is China’s largest exporter of industrial valves, while Zhejiang Wolwo is a biopharmaceutical business.

Neway will list in Shanghai, which hosts most of China’s largest companies, while the other four will debut in Shenzhen.

The IPO market has been frozen since authorities suspended listings in October 2012 to stamp out equity market fraud and restore confidence in domestic markets, Reuters added.

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