China OKs IPOs after 18-month suspension

China's securities watchdog on Wednesday approved applications for initial public offerings (IPO), the first time in 18 months.

The first batch to be approved are Kuaijishan Shaoxing Rice Wine Co. Ltd., Guangdong Ellington Electronics Technology Co. Ltd., and Nanjing Kangni Mechanical and Electrical Co. Ltd.

But edg (China) Corporation Ltd. did not pass the review, according to the China Securities Regulatory Commission (CSRC).

The CSRC said it will go on to review another three companies' IPO applications on May 7.

The CSRC on Wednesday also pre-disclosed 30 companies' IPO applications.Such pre-disclosures have been rising with 186 having been made since April 18.