China has told the country’s biggest securities firms and banks to throttle back their work on initial public offerings and focus on boosting the struggling stock market, according to people familiar with the matter.
The China Securities Regulatory Commission said Monday at a closed-door meeting that it would process IPO applications already in the pipeline but wouldn’t take up new submissions for now, the people said. Officials also asked shareholders of listed companies to hold off from large-scale share sales until market conditions improve, the people said.
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