Green light for seven GEB suitors

The securities watchdog yesterday gave seven companies the green light for initial public offerings (IPO) on the to-be-launched growth enterprise board (GEB) anticipating the turnaround in the bourses to help boost investor sentiments.

A total of seven companies have entered the primary IPO review procedures yesterday. All the companies have met the listing requirements for the main board in terms of financial indicators.

According the companies' prospectuses, their accumulated net profit in the past three years has surpassed 30 million yuan, the minimum threshold for listing on China's main board.