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Joint Ventures Expected to Get Listed on the Second Board
Sino-foreign joint venture enterprises and the subsidiaries set up by foreign companies in the mainland can apply for listing on China's soon-to-be-launched Growth Enterprises Market (GEM), or the second board market, a responsible official with the Promotion Department of Shenzhen Stock Exchange (SZSE) said Wednesday at the forum on the Expansion of China's IT Market and Start-up Investment.
The official said the enterprises of these categories might as well conduct restructuring. If qualified, they are allowed to get listed on the GEM. He hopes such case will emerge.
It is learned that among the first batch of enterprises to be listed on the GEM, some are share-controlled by Hong Kong funds. The official said the preparatory work for the GEM is getting along smoothly. Currently, SZSE has finished the test of the GEM system, established the organizational framework for GEM, including market supervisory department and issuance examination department, stipulated issuance examination rules, standardized the issuance operational procedures and sponsor liaison system and completed recruiting and training of professionals.
It is said that SZSE has recruited 50 accountants and lawyers from overseas recently. Besides, the GEM index simulation has passed reasoning, and the technical preparations for quotation display have been finished. (Panorama)
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