Three Chinese firms participate in S Korea's first-ever IR sessions for foreign companies

20:30, January 28, 2010      

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South Korea's bourse operator on Thursday held its first-ever IR session for foreign companies listed on the nation's junior bourse, among which three Chinese firms were included, as it sought to beef up support for foreign companies.

The Chinese firms to participate in the event were China Food Packaging Inc., Ltd., China Great Star International Limited, and China Engine Group Limited, which listed their shares on the KOSDAQ last year.

South Korea currently has 10 foreign firms listed on the nation' s bourses, including the main index KOSPI and the junior KOSDAQ, among which nine are Chinese.

According to media reports, eight of them are seeing a decline in share prices, which the bourse attributed to lack of promotion.

Accordingly, the bourse operator is planning to expand the opportunities to make known the listed foreign firms, the KRX said.

"We are considering providing investors with anlaysis reports on foreign firms at least three times a year so that they may get adequate amount of information on them," Hwang Sung-yun, an executive in charge of KOSDAQ, told local media.

Meanwhile, the three Chinese companies disclosed their performances in the fourth quarter of 2009, vowing to continue with their growth in 2010.

With an increase in the number of foreign firms to get listed on the Seoul bourses, share prices of companies from overseas will likely see a gain as well, local media reported.

Source: Xinhua
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