Initial public offerings on the Growth Enterprise Board have not been suspended, the Shanghai Securities News reported on Tuesday, citing a source from the Shenzhen Stock Exchange.
The report came after local media said that IPO activities on the board will be suspended for a week. They said the decision to suspend IPOs was triggered by a recent IPO fraud in which Guangdong Xindadi Bio-Tech Co Ltd is suspected to have made false statements in its prospectus.
The Shanghai Securities News said the Shenzhen Stock Exchange has not received any notice to suspend IPOs.
"It's impossible that we suspend the whole IPO works on the Growth Enterprise Board just because of one company," the newspaper cited the source as saying.
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