BEIJING -- China's securities regulator on Friday approved seven companies' applications for IPOs.

The seven companies are expected to raise up to 4.6 billion yuan ($712 million), according to a statement on the website of the China Securities Regulatory Commission.

Among the companies, three will be listed in Shanghai and four in Shenzhen: three planning to be listed on the small- and mid-sized enterprise board and one on the ChiNext Board.

The companies will set their schedules with subscribers and stock exchanges at a later date, the statement said.