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Seven Chinese Companies to Go Public in NYSE Next Year
A vice president of New York Stock Exchange (NYSE) said recently that as many as seven Chinese companies have the intention of going public on NYSE next year, including China's largest fixed line operator China's Telecom, reported Hong Kong-based newspaper Wen Wui Po.
Aside from three listings in the offing, three or four more companies are expected to make debut on NYSE next year.
Among others, China National Offshore Oil Corp (CNOOC) will land on NYSE in February next year, he revealed.
To date, More than fifty Chinese companies have been listed overseas with three giants, PetroChina, Sinopec and China Unicom joining the rank this year.
The three companies listed on NYSE this year bring the total market capitalization of Chinese shares on NYSE to US$ 6.1 billion, 10 times over the last year.
Counting the shares of China Mobile (Hong Kong) that are traded on NYSE, the total market capitalization will come up to US$ 11 billion, though it was not registered in the mainland.
Another NYSE listing hopeful is Shanghai Baoshan Steel & Iron (Group) Corp. (Panorama)
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