China approves 30 new IPOs to cool red-hot stock market

April 3, 2015 1:22 AM

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SHANGHAI, April 3 (Reuters) - China's securities regulator approved 30 initial public offerings (IPOs) late on Thursday, a move which could cool a stock market rally that has seen the benchmark blue-chip index surge 13 percent since the start of this year.

The number of IPOs approved jumped from 20 in January, and 24 each in February and March, sending out the message that regulators intend to accelerate the pace of IPOs as part of their efforts to cool the red-hot market, analysts said.

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