Jiangsu A-Zenith appears to be the only furniture company in the next batch of waiting list for IPOs. China's regulator posted draft initial public offering (IPO) prospectuses for 18 Chinese firms on April 21, bringing the total number of potential issuers up to 46, with state media estimating they could raise as much as 22.6 billion yuan ($3.6 billion) from investors.

Founded in 1992, Jiangsu A-Zenith Furniture now has 29 self-owned stores and 137 dealers’ stores targeting high end western style furniture market. In the prospectus released couple of days ago, A-Zenith declares that it plans to be listed in Shanghai Stock Exchange and raise 0.602 billion yuan with 54.7495 million shares, while 0.416 billion yuan will be used to expand the retail network and 98.35 million yuan will be used to increase the capacity of sofa and furniture.

Some comments points out that 90% shares of A-Zenith are in the hands of Gao Wei family and the net value of the company’s stock is quite high.

None of the 46 firms has been approved to launch IPOs yet, but the CSRC (China Security Regulatory Commission) is expected to review these applications in May and permit the resumption of IPOs within the month, local analysts have forecast.