New IPO rules likely to test bourses' mettle

Securities regulator gives green light to seven firms to raise $608 million through public floats, one at a time

Fundraising by seven companies under the new rules for initial public offerings could test the country's fragile stock market, analysts said on Wednesday.

The China Securities Regulatory Commission on Tuesday night approved seven companies to issue IPOs, raising an estimated 4 billion yuan ($608 million) in total.