Companies approved for listing on China’s new NASDAQ-style Growth Enterprise Board will begin selling shares in their initial public offerings from this Friday, as regulators prepare to review more applications.
By yesterday, 10 companies had issued a prospectus for listing on the new board, run by the Shenzhen Stock Exchange, which is meant to nurture private companies that struggle to get financing in a system favoring big state enterprises.
The China Securities Regulatory Commission has approved all 13 companies that have applied to list shares. Two more batches are to be reviewed this week, Chinese state-run television reported.
No date has been announced for the start of trading on the new exchange, but news reports say it could be as early as next month.
It will be located in Shenzhen, the southern financial center near Hong Kong that is the site of the smaller of China’s two stock exchanges.
The companies that have issued a prospectus on the Shenzhen Stock Exchange’s Web site are: Qingdao Tgood Electric Co (青島特銳德電氣), Beijing Ultrapower Software Co (北京神州泰嶽軟件), Lepu Medical Technology (Beijing) Co (樂普北京醫療器械), Nanfang Ventilator Co (南方風機), Beijing Toread Outdoor Product Co (北京探路者戶外用品), Chongqing Lummy Pharmaceutical Co (重慶萊美藥業), Henan Hanwei Electronics Co (河南漢威電子), Shanghai Bestway Marine Engineering Design Co (上海佳豪船舶工程設計), Anhui Anke Biotechnology (Group) Ltd (安徽安科生物學工程集團) and Beijing Lanxum Technology Co (北京立思辰科技).
The companies — trading in pharmaceuticals, technology and software — plan to issue a total of 246.1 million shares and hope to raise more than 2 billion yuan (US$300 million), state media have reported.
The government received 108 applications for listing on the new board the day it started accepting proposals, July 26.
Although the size of the share offerings is dwarfed by those of much bigger companies on the main boards in Shenzhen and Shanghai, the exchange offers a new option for Chinese investors. Foreign investors are largely excluded from trading in yuan-denominated shares.
Taiwan’s rapidly aging population is fueling a sharp increase in homes occupied solely by elderly people, a trend that is reshaping the nation’s housing market and social fabric, real-estate brokers said yesterday. About 850,000 residences were occupied by elderly people in the first quarter, including 655,000 that housed only one resident, the Ministry of the Interior said. The figures have nearly doubled from a decade earlier, Great Home Realty Co (大家房屋) said, as people aged 65 and older now make up 20.8 percent of the population. “The so-called silver tsunami represents more than just a demographic shift — it could fundamentally redefine the
Businesses across the global semiconductor supply chain are bracing themselves for disruptions from an escalating trade war, after China imposed curbs on rare earth mineral exports and the US responded with additional tariffs and restrictions on software sales to the Asian nation. China’s restrictions, the most targeted move yet to limit supplies of rare earth materials, represent the first major attempt by Beijing to exercise long-arm jurisdiction over foreign companies to target the semiconductor industry, threatening to stall the chips powering the artificial intelligence (AI) boom. They prompted US President Donald Trump on Friday to announce that he would impose an additional
China Airlines Ltd (CAL, 中華航空) said it expects peak season effects in the fourth quarter to continue to boost demand for passenger flights and cargo services, after reporting its second-highest-ever September sales on Monday. The carrier said it posted NT$15.88 billion (US$517 million) in consolidated sales last month, trailing only September last year’s NT$16.01 billion. Last month, CAL generated NT$8.77 billion from its passenger flights and NT$5.37 billion from cargo services, it said. In the first nine months of this year, the carrier posted NT$154.93 billion in cumulative sales, up 2.62 percent from a year earlier, marking the second-highest level for the January-September
Asian e-commerce giant Shein’s (希音) decision to set up shop in a historic Parisian department store has ruffled feathers in the fashion capital. Anger has been boiling since Shein announced last week that it would open its first permanent physical store next month at BHV Marais, an iconic building that has stood across from Paris City Hall since 1856. The move prompted some French brands to announce they would leave BHV Marais, but the department store had already been losing tenants over late payments. Aime cosmetics line cofounder Mathilde Lacombe, whose brand was among those that decided to leave following
RSS