SHANGHAI (Reuters) - Four Chinese companies aim to raise up to 1.7 billion yuan ($273.80 million) via initial public offerings in Shanghai and Shenzhen, the first firms to push forward with listings after a four-month lull.
The securities regulator last week approved the listing plans of seven firms, effectively resuming the IPO market which halted in February after a two-month flurry of activity ended a 14-month drought that started in November 2012.
Shanghai Lianming Machinery Co Ltd aims to sell up to 20 million shares at 9.93 yuan a piece, the company said in a statement posted on the Shanghai stock exchange website on Tuesday, meaning it will raise 198.6 million yuan if fully subscribed. The company has said it plans to use the proceeds to fund projects worth 250 million yuan.
The company, which will trade under the ticker (603006.SS), will take subscriptions on June 17 and 18 and announce the results on June 20.
China Securities Co Ltd will be underwriting the sale.
The other three will list on the smaller Shenzhen stock exchange and aim to raise a total of 1.5 billion yuan, the companies said in statements posted on the exchange website.
Wuxi Xuelang Environmental Technology Co Ltd aims to sell up to 20 million shares at 14.73 each for a total of 294.6 million yuan if fully subscribed, with Pacific Securities Co Ltd (601099.SS) acting as underwriter.
Shandong Longda Meat Foodstuff Co Ltd aims to sell up to 54.59 shares at 9.79 yuan each for a total of 534.4 million yuan if all sold, while Feitian Technologies Co Ltd aims to raise up to 662.9 million yuan with shares priced at 33.13 yuan.
Guosen Securities will be the underwriter for both companies.
The China Securities Regulatory Commission is planning about 100 IPOs for the rest of this year, bringing the full-year tally up to 150, about half the number forecast by consultants including PwC.
Reporting by Shanghai Newsroom; Editing by Kazunori Takada and Stephen Coates