A-share listing process to be accelerated for foreign firms

10:52, May 05, 2010      

Email | Print | Subscribe | Comments | Forum 

The China Securities Regulatory Commission (CSRC) is accelerating the listing process for red-chip and foreign companies on the A-share market, CSRC Chairman Shang Fulin said on Tuesday.

The international board for listings of overseas companies is likely to make its debut in Shanghai later this year and the regulator is reviewing the final draft of the listing rules.

Shang made the remarks at a CSRC meeting of the Issuance Examination Committee in Beijing. The committee, which reviews share issuance applications under the securities watchdog, elected 25 new members on Tuesday.

The launch of the international board is being widely watched as it is considered a key step in making Shanghai an international financial center. HSBC Holdings Plc, Coca-Cola Co, General Electric Co and Wal-Mart Stores Inc are among the foreign companies that may seek listings in China's A-share market.

Chinese red-chip companies, which have business in the mainland but are listed on the Hong Kong Stock Exchange such as China Mobile, will also return to the mainland fund raising pool through listing on the new board.

The regulator said earlier that overseas companies could list on the new board through initial public offerings (IPO) or depositary receipts traded on Chinese stock exchanges. It is also exploring the possibility of overseas companies issuing yuan-denominated bonds and other debt instruments.

Meanwhile, Shang noted that the regulator will continue to reform the rules on new share issues and said it has achieved its goals in the first stage.

"The IPO pricing system has become more market driven and share allocations have favored individual investors more," he said.

"The price surge on the first trading day has been significantly reduced."

Source:China Daily


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based eastday.com reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
Hot Forum Discussion