Unicorn bait

27 February 2017 By Robyn Mak Follow @mak_robyn

The securities watchdog is mulling faster listing approvals for big tech firms. Letting Jack Ma’s $60 bln Ant Financial jump the queue may convince other entrepreneurs to follow, eschewing New York and Hong Kong. But this would be a poor substitute for meaningful IPO reform.

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The China Securities Regulatory Commission (CSRC) is considering offering a shortcut to some of the country's largest technology companies to list by letting them jump a long queue of applicants waiting to go public, Reuters reported on Feb. 24, citing six people with knowledge of the proposals.

Companies being considered for the shortcut could include e-commerce group Alibaba's affiliate Ant Financial, Zhong An Online Property and Casualty Insurance, and security software maker Qihoo 360 Technology.

In a news conference on Feb. 26, the CSRC declined to confirm the Reuters report.

There are about 700 companies waiting for a green light from the CSRC to go public in Shanghai or Shenzhen.

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