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BEIJING, July 4 (Xinhua) -- Twenty-eight Chinese companies that have obtained permission from the securities watchdog for initial public offerings (IPOs) announced Saturday evening they would postpone1 follow-up issue of shares due to recent fluctuations2 in the stock market.
The companies, 10 to go public in Shanghai and 18 in Shenzhen as planned, said they have adjusted their IPO schedule and would start to refund3 investors4' capital on July 6, according to the announcements filed with the Shanghai and Shenzhen stock exchanges.
28 firms postpone IPOs
Analysts5 believe the postpone will help relieve the market which is in urgent need to rein6 in continued plunge7. A string of supportive measures were rolled out in the past days but failed to reverse the losing trend.
The Shanghai Composite Index dived 5.77 percent on Friday to finish at 3,686.92 points, down substantially from a peak of 5,178.19 points on June 12.
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1 postpone | |
v.延期,推迟 | |
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2 fluctuations | |
波动,涨落,起伏( fluctuation的名词复数 ) | |
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3 refund | |
v.退还,偿还;n.归还,偿还额,退款 | |
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4 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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5 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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6 rein | |
n.疆绳,统治,支配;vt.以僵绳控制,统治 | |
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7 plunge | |
v.跳入,(使)投入,(使)陷入;猛冲 | |
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