Issuance examination committee once again rejected the three IPO holding stability and enhanced signal.

Recently, four companies will IPO, there are three had not been passed, analysts said the three companies to IPO issuance examination committee rejected an application is very rare, indicating that the management's determination to strictly control the quality of new shares, these measures .all help to balance the market relations, can be understood as "maintenance of stability" further strengthen the signal. .<P Style=MARGIN: 0px> (http://) in the market for IPO financing to accelerate the pace of the management Ruoshi questioned when the issuance examination committee finally respond to the recent application for IPO financing of the four companies, only the home .Run more business is approved, the other three software Ultrapower Beijing, Jiangsu supernatural valves, Great Wall Motor were turned away. .Analysts said this, a large IPO and refinancing will be applied for the actual process of slowing down, passing out during the management of the current "maintenance of stability," the signal that does not want the issue to a large-scale pressure sensitive market. .</ P> <P style=MARGIN: 0px> </ P> <P style=MARGIN: 0px> Great Wall of them return to A shares from the H shares is temporarily blocked. .Whether the reason for its being, the investment bank said that Great Wall Motor carrying sufficient funds can pay six investment projects. .Great Wall Motor in 2007, according to financial reports: December 31, 2007, Great Wall Motor monetary funds amounted to approximately 3.312 billion yuan, of which additional H shares of 1.11 billion yuan to raise funds remaining unused. .Great Wall Motor's related announcement, while not disclose the amount of fund-raising, but made it clear that the six project is expected to cost about 2.755 billion yuan. .</ P> <P> data show that the first half of this year, A shares amounted to 89.8 billion IPO Prospectus, compared to same period last year, sharply down 41%. .Of these, only four Shanghai IPO, raised a total of 66.8 billion; compared to 12 cases last year, financing the amount of 141.1 billion yuan. .Only a handful of large IPO in the first half, were issued in January of coal energy, February issue of the Chinese Railway Construction, April, and issued shares of Zijin Mining Gold and Molybdenum. .</ P> <P> compared with last year, the expansion rate of small plates have a certain degree of slowdown, and whether the IPO is a company mostly small plates enterprises. .This may results from the small plates of new shares outstanding compared to the situation a large face. .</ P> <P> Everbright Securities, South Locomotive IPO shares and other large companies, and refinancing will be applied, the show management will not give up because of weak market financing of the normal function of the market. .However, large-cap stocks will have no issue of delay, transfer the management to adjust the pace of financing has been put into action. .</ P> <P> in the system, the management of the IPO to make a further specification. .July 11, the Commission issued a regulation on the adjustment of his subordinates made the disclosure in advance notice of the time. .Notification requirement, since July 1, the acceptance of new applications for initial public offering, the issuer and the sponsor to modify the application documents in accordance with feedback within 5 working days after the public declaration of the prospectus is issued. .And compared to the previous regulations, this time was somewhat earlier, can increase the audit transparency. .</ P> <P> for re-financing, management has targeted to take the regulatory measures. .Before the Commission on the refinancing of listed companies on the introduction of new rules: after 30 November 2008, the governance structure of the remaining issues pending the completion of rectification and other issues of corporate governance of listed companies, the SFC will not accept its equity incentive and refinancing applications .. .This means that the listed company and then began to gradually refine the financing conditions, development of institutional infrastructure is further improved. .</ P>.