China not blocking property IPOs, fundraising -paper

China's securities regulator has not halted initial public offerings or follow-on fundraising in the property sector, and supports the healthy expansion of property companies via the capital markets, state media reported on Friday.

The official Shanghai Securities News quoted an official with the China Securities Regulatory Commission as saying that regulators would support the expansion of solid property firms by allowing them to tap capital markets, including initial public offerings and listings via reverse takeovers.

The official denied market talk that IPOs and follow-on fundraisings in the property sector had been suspended, but added that IPOs aiming to raise funds for purposes such as hoarding land would not be approved.