Optic Fiber Manufacturer Breaks IPO Drought as Beijing Stock Exchange Resumes Reviews

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The Beijing Stock Exchange launched in November 2021 as the first stock exchange in the Chinese capital.

Chengdu Uestc Optical Communications Corp., which makes optical fiber and electronics for the defense sector, is the first IPO to be reviewed by the Beijing Stock Exchange after a four-month listing drought.

The exchange will review the IPO application on June 17, more than 130 days after since its last review in early February.

Chengdu Uestc Optical Communications filed its IPO application in September and plans to raise 150 million yuan ($20.7 million) by issuing 10.58 shares.

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Chengdu Uestc Optical Communications Corp.'s IPO will be reviewed by the Beijing Stock Exchange on June 17, ending a four-month listing drought.
New regulatory measures in China, including increased random inspections and tightened criteria, aim to improve IPO quality and market stability.
Analysts estimate a 56%-71% decline in IPO proceeds this year due to these regulatory changes.

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Who’s Who

Chengdu Uestc Optical Communications Corp.: Chengdu Uestc Optical Communications Corp. manufactures optical fiber and electronics for the defense sector. It is the first IPO reviewed by the Beijing Stock Exchange after a four-month hiatus. The company filed its IPO application in September and aims to raise 150 million yuan ($20.7 million) by issuing 10.58 million shares. The IPO application review is scheduled for June 17, marking over 130 days since the last review in early February.

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What Happened When

September 2023：: Chengdu Uestc Optical Communications filed its IPO application.

November 2023：: China’s State Council signed off on a policy document calling for financial institutions to step up support for small and medium-sized enterprises traded on the Beijing Stock Exchange.

Early February 2024：: The Beijing Stock Exchange had its last IPO review before a four-month listing drought.

Before Spring Festival 2024：: China implemented a series of stock market rescue measures.

April 12, 2024：: The State Council released new guidelines known as the National Nine Articles.

April 30, 2024：: The China Securities Regulatory Commission (CSRC) published an updated checklist increasing the random inspection rate for IPO candidates from 5% to 20%.

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