Message on 40 SOEs's overall listing "misrepresented"

09:52, December 16, 2010      

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An announcement by the State-owned Assets Supervision and Administration Commission (SASAC) on Sunday, saying that 40 State-owned enterprises (SOEs) will finish overall listing by the end of 2011, has been misunderstood by the media, according to the National Business Daily (NBD), citing information from the SASAC Wednesday.

The announcement was made by Ji Xiaonan, a senior official at the SASAC, whose apparent meaning was that the SASAC plans to promote 16 SOEs for their overall listing in 2011, so that the total number of companies to finish overall listing would reach 40, according to the NBD.

The NBD also said that some media misrepresented Ji's announcement, which caused heated discussion and concern among experts, securities agencies and other industry insiders.

But one consulting company correctly reported that by the end of July, 24 SOEs listed their major business on the stock market, and from August to the end of 2011, 16 more companies will finish overall listing, so that the total number would reach 40.

The consulting company also raised its concerns over the upcoming overall listing, saying that it could bring more pressure on the A-share market.

Some issues remain to be addressed before the SASAC can carry out its plan, such as whether it can buy shares in the companies that finish overall listing.

Source: Global Times
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