#chinext

First 3 companies obtain regulatory approval based IPOs in Shenzhen #IPOShenzhen #ChiNext #ShenzhenStockExchange #China

A Nasdaq-style subsidiary of the Shenzhen Stock Exchange, ChiNext, announced the approval of the first three companies on Monday for the registration-based listing.

The listing committee reviewed and advocated the initial public offering application on Monday from

Beijing Feng Shang ShiJi Culture Media Co.Ltd., Bloomberg Profile (http://www.fssjart.com/en/)

Contec Medical Systems Co. Ltd

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By Sam Ro

China’s stock market got wrecked on Friday with the Shanghai Composite index crashing by 7.4 per cent. The red-hot market is now down 19 per cent from its high, which it set on June 12.

Some folks may see this as a buying opportunity, but not the analysts at Morgan Stanley.

“[T]his is probably not a dip to buy,” Morgan Stanley’s Jonathan Garner said. “In fact, we think the…

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