Pihaizhou: the IPO's strict review will help alleviate the pressure of "quake lake".
The IPO issue under the background of normalized and through to the IPO audit strictly, and perfect the related system, is beneficial to reduce pressure on IPO lake, will it stick and IPO of lake eventually eliminate can be expected, the IPO is on day of arrival will not be too far away.
The number of more sensitive IPO queues has recently fallen below 400. According to the data released by the CSRC, as of March 22, 2018, the CSRC has accepted 393 initial enterprises. Of these, there are 25, and there are 368. As of January 4, the number of queues was 501, according to data released earlier this year by the CSRC. This means that in less than three months of this year, the number of IPO queues has dropped by 108.
The number of IPO queuing companies has decreased by 108, which means that the pressure of the IPO barrier lake has eased. The result, of course, is the market's delight. But how did this happen? This is an issue worth caring for the industry and management. Because this issue is of great significance to the eventual elimination of the IPO barrier lake. And once the IPO barrier lake is eliminated, the IPO channel can be opened up, and the IPO enterprise will be submitted for trial. This situation is expected by the market, which will greatly improve the efficiency of IPO enterprises.
So how did the number of IPO queuing companies reduce the results of the 108? This is partly the result of new issues. As of March 25, this year, the review committee reviewed the initial application of 63 companies. Of these, 30 have been approved, 29 have been denied, and four have postponed the vote. However, the pace of the IPO review slowed sharply from a year earlier. In the same period last year, the number of companies reviewed by the audit committee was 89.
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There are clearly other reasons for the decline in IPO queues as IPO reviews slow. That is another reason for the sharp decline in the number of new filings. According to the data, only seven new companies have been reported this year, compared with 53 in the first quarter of last year. Among them: 22 in January, 8 in February and 23 in March. The number of newly reported ipos dropped by 46. This is crucial to the sharp decline in the number of IPO queues.
In addition, there is a very important reason for the IPO company to withdraw the application materials and terminate the review. As of March 22, 60 companies have chosen to withdraw their materials and stop censoring this year. The recent 1 month to IPO companies to accelerate the withdrawal material, since February 28 to March 22, there are 38 enterprises terminate the review, more than sixty percent of this year, on March 22, only on the same day, there are 12 companies withdraw material.
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As a result, the number of new IPO filings has fallen sharply and the filing materials have been withdrawn from the IPO company, which is the two important reasons for the sharp decline in the number of IPO queuing enterprises this year. What does this show? It shows that the CSRC's strict supervision of the IPO process has been effective. This strict supervision consists of two parts:
First, the process of the IPO company will be strictly reviewed. In this regard, the commission's performance since it took office on October 17 last year has made the market clear and has won the reputation of "the strictest in history". Take this year's audit as an example. As of March 25, this year, the review committee reviewed the initial application of 63 companies. Of these, 30 have been approved, 29 have been rejected, 4 have postponed the vote, and the overall rate is only 47.62%, less than 50%. This is a great deterrent to the unskilled and opportunistic south guo. Plus, since the second half of last year, there has been an increase in the number of on-site inspections, and even a normalisation, so that companies trying to fish in troubled waters will not be able to continue. Some companies that reported IPO filings have withdrawn their applications, and some companies interested in filing for the filing have slowed the filing process or simply abandoned the filing. This is the positive change brought by the IPO.
The second is to introduce new IPO rules on the basis of the IPO, stipulating that the company should run for at least 3 years after the IPO is rejected. This gives a heavy blow to companies trying to take their chances and fish in troubled waters. Because once an IPO is rejected, even a backdoor listing will be delayed for three years. In this way, companies are more cautious in filing an IPO application, and the companies that are not enough are very interested in withdrawing their orders. Such companies either wait for an IPO to be better able to come up with an IPO application, or simply go through the backdoor listing. But no matter which way they go, it is a good thing for companies to be cautious about ipos.
As a result, the number of IPO queuing enterprises has declined sharply, which is a positive change from the strict supervision of the IPO process. It shows that the IPO issue under the background of normalized and through to the IPO audit strictly, and perfect the related system, is beneficial to reduce pressure on IPO lake, will it stick and IPO of lake eventually eliminate can be expected, the IPO is on day of arrival will not be too far away.
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Geoff Barton, head of the Association of School and College Leaders, said: "Schools and colleges across the country are straining every sinew to improve the opportunities for disadvantaged pupils, and indeed all their young people. Significant challenges remain, however.
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Prof Les Ebdon, Director of Fair Access, was encouraged by the increase in disadvantaged students at top universities, but said they were still 5.5 times less likely to attend these institutions than their advantaged peers.
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