China's IPO restrictions cloud fundraising plans of hundreds of companies

China's IPO restrictions cloud fundraising plans of hundreds of companies

FILE PHOTO: A sign of Beijing Stock Exchange is seen at a counter during an organised media tour, in Beijing, China February 17, 2022. REUTERS/Florence Lo

China’s surprise move to slow the pace of mainland initial public offerings (IPOs) in an attempt to bolster the secondary market will cloud the fundraising plans of hundreds of companies and will weigh on the economy, bankers and lawyers said.

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