Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
China reviews first IPOs on Growth Enterprise Market
Adjust font size:

China's securities authority Thursday began reviewing applications of the the first seven IPOs for listing on the Growth Enterprise Market (GEM), a Nasdaq-style market in China.

The seven enterprises covered fields of software, medical equipment and medicines. They planned to raise 2.27 billion yuan (332.65 million U.S. dollars).

The review meeting was for the first time opened to journalists, who were allowed to watch the meeting for about ten minutes.

The second batch of IPOs will be reviewed Friday and they plan to raise 1.13 billion yuan (165.30 million U.S. dollars), according to a report on the website of the China Securities Regulatory Commission (CSRC).

IPO review meetings would be concentrated on these days, a CSRC official, who declined to be named, told Xinhua Monday.

"IPO applications sent to the regulator were concentrated. The regulator had to take into consideration forming a block and guard against speculation that might push up IPO stocks prices," the official said.

The CSRC started to accept applications of the GEM on July 26 and had received 155 applications for IPOs on the GEM as of Sept. 10. The CSRC has formally agreed to handle 149 enterprises' applications that aim to raise 33.61 billion yuan (4.92 billion U.S. dollars).

(Xinhua News Agency September 17, 2009)


Tools: Save | Print | E-mail | Most Read Bookmark and Share
Pet Name
China Archives
Related >>
June 7 Tokyo 2nd China-Japan High-Level Economic Dialogu

June 30 Shanghai 2009 Automotive Engine Technology Seminar

September 8-12 Xiamen China Int'l Fair for Investment and Trade
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?