CCTV9英语新闻：Chinese drug maker postpones IPO amid pricing concern（在线收听）

Chinese drug maker Aosaikang Pharmaceutical became the first company to postpone its initial public offering after China reopened its IPO market. The China Securities Regulatory Commission has allegedly halted the proposed listing after Aosaikang priced its stock at 72 yuan 99 cents.

The price is 67 times Aosaikang's earnings and is a much higher ratio than the company's comparable peers. Aosaikang had aimed to raise 4 billion yuan, or just over 660 million US dollars by listing on the Shenzhen Stock Exchange.

It intended to use most of the proceeds to buy shares of its parent Nanjing Aosaikang Pharmaceutical.