28 Chinese companies suspend IPOs: exchange statements

SHANGHAI (Reuters) - Twenty-eight Chinese companies planning to list on the country's stock exchanges said on Saturday they would suspend their initial public offering plans.

The companies, in separate statements issued on the Shanghai and Shenzhen stock exchanges, said they would suspend their listing plans due to "relatively big market volatility".

The Wall Street Journal reported earlier that the government had decided to suspend IPOs to help stabilize the falling stock market.

(Reporting by Samuel Shen and Kazunori Takada; Editing by Kevin Liffey)