Stocks News
- Galaxy seeks special IPO approval
Date: 16-Aug-2007 Sources: (Shenzhen Daily)
CHINA Galaxy Securities Co. is seeking special regulatory approval to conduct an initial public offering (IPO) as early as next year in a bid to catch up with rivals to tap public funding for expansion, sources said Tuesday.
The Beijing-based broker, which is set to make a profit for a second straight year in 2007, needs special approval as the stock regulator requires three years of profits before allowing an IPO, according to sources briefed on the matter.
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