Economy Ten Chinese firms look to raise nearly $500 million through IPOs

Ten Chinese firms look to raise nearly $500 million through IPOs

100 Yuan notes are seen in this illustration picture in Beijing November 5, 2013. REUTERS/Jason Lee/Files
100 Yuan notes.

Ten Chinese firms on Monday applied for approval to raise over three billion yuan ($469.96 million) through mainland listings, as regulators restart initial public offerings (IPO) after a near five-month hiatus.

Among the companies that filed their plans to the Shanghai and Shenzhen stock exchanges were toy building block maker BanBao and outdoor power equipment firm Topsun.

China’s securities regulator said last Friday that 10 companies had completed their IPO preparations. The government suspended stock market listings during the summer market rout.