Equities slide on liquidity worries

The 28 companies included in the preliminary disclosure list have filed plans to raise more than 12.7 billion yuan in all. Sixteen of those companies aim to list on the main board of the Shanghai Stock Exchange, and the remaining 12 want to list on the Shenzhen exchange.

The highest-profile IPO candidate among the 28 companies is Shanghai Film Co, which plans to raise 969 million yuan by issuing 95.3 million shares.

The proceeds will be used to renovate existing cinemas and build new ones, as well as to set up a digital cinema-network operating system. Shanghai Film's net profit rose 34 percent last year to 139 million yuan.

Beijing-based JCHX Mining Management Co would be the largest of the 28 offerings. It aims to raise 2.02 billion yuan on the Shanghai exchange to buy mining equipment and establish a technology development center. Its net profit rose 20 percent to 385 million yuan in 2013.

Mount Jiuhua Tourism Development Co, a travel agency based in central China's Anhui province, is also on the list. The company aims to become the second listed scenic area in China.

The first such IPO was in 1997, when Huangshan Tourism Development Co Ltd went public.

Mount Jiuhua Tourism Development is among the eight companies that transferred their IPO applications from Shenzhen to Shanghai after the CSRC said it would pursue a principle of "balance" when examining IPO applications and "maintain the same pace" of examination and approval.

The Shanghai exchange has traditionally hosted more blue chips, while smaller and technology-intensive companies favor the Shenzhen exchange.

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