Five mainland companies -- Hengdiandongci, Baoli Property, Tianyuan Science and Technology, Weiertai and Daqin Railway -- will start their IPO (Initial Public Offering) this week.

 

Their shares will be sold on China's two stock exchanges, Shanghai Stock Exchange and Shenzhen Stock Exchange, to public investors this week.

 

Daqin Railway Co., the largest of the five, said it plans to raise 14 billion yuan (US$1.75 billion) through its A-share IPO.

 

These IPO approvals came after the China Securities Regulatory Commission approved the application by the Bank of China (BOC), the country's second biggest bank, to go public on the Shanghai Stock Exchange last month.

 

Daqin's IPO will be the second biggest after the BOC, which was listed earlier this month with the issue of about 6 billion A-shares for about 20 billion yuan, since China resumed IPOs last month following a year-long suspension.

 

(Xinhua News Agency July 18, 2006)