More companies terminate IPO applications in China amid tightening regulatory reviews

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An increasing number of companies are voluntarily withdrawing their applications for initial public offerings in China and backlogs of applications reemerged amid tightening regulatory reviews.

In December last year and January this year, a total of 25 companies voluntarily terminated their IPO applications for IPOs on the tech-focused Star Market on the Shanghai Stock Exchange, according to their public announcements, compared to a total of 23 Star Market IPOs terminated for the full year of 2019. In the first 11 months of 2020, a total of 26 companies' Star Market IPO applications were terminated.

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