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Three Chinese Companies to Make IPOs
The China Securities Regulatory Commission (CSRC) has given three Chinese firms permits to make their initial public offerings (IPOs) on the Shanghai and Shenzhen stock exchanges.
The Yuan Longping Agricultural High Technology is mainly engaged in the development and production of high-tech hybrid rice and vegetable seeds.
The company, named after well-known Chinese scientist Yuan Longping who is known as "the father of hybrid rice," will issue 55 million yuan worth of common stock at 12.98 yuan per share. The Gansu Languang Science and Technology Co., Ltd. is a high- tech enterprise producing computer displays and other electronics products.
The company plans to issue 50 million yuan worth of common stock at 8.68 yuan per share.
The Xuzhou Weiwei Food & Beverage Co., Ltd. is a Sino-foreign joint venture in Jiangsu Province in east China. The soy milk producer is expected to issue 100 million yuan worth of common stock at 8.28 to 10.2 yuan per share.
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