Three companies priced their share offerings at below-average valuations for their respective industries after rejecting most investor bids for stock as too high, according to statements on Shenzhen Stock Exchange's website. Photo: EPA Three companies priced their share offerings at below-average valuations for their respective industries after rejecting most investor bids for stock as too high, according to statements on Shenzhen Stock Exchange's website. Photo: EPA
Three companies priced their share offerings at below-average valuations for their respective industries after rejecting most investor bids for stock as too high, according to statements on Shenzhen Stock Exchange's website. Photo: EPA

China's crackdown on overpriced IPOs shows effect

Higher investor bids ignored as firms heed price warnings issued by market regulator

Three companies priced their share offerings at below-average valuations for their respective industries after rejecting most investor bids for stock as too high, according to statements on Shenzhen Stock Exchange's website. Photo: EPA Three companies priced their share offerings at below-average valuations for their respective industries after rejecting most investor bids for stock as too high, according to statements on Shenzhen Stock Exchange's website. Photo: EPA
Three companies priced their share offerings at below-average valuations for their respective industries after rejecting most investor bids for stock as too high, according to statements on Shenzhen Stock Exchange's website. Photo: EPA
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