BIZCHINA / Center
Record number of firms to list overseas
By Shangguan Zhoudong (chinadaily.com.cn)
Updated: 2007-06-12 14:16
A record number of Chinese enterprises are expected to list on overseas
stock markets in 2007 as more and more domestic companies show their
intentions to go public overseas.
"The number of Chinese companies listed overseas will see a record this
year," said Yang Ge, the New York Stock Exchange's (NYSE) Asia-Pacific
executive director.
In the past week, two Chines
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e solar energy enterprises, LDK Solar Co and Yingli Green Energy Holding
Co Ltd, successfully made their initial public offerings (IPOs) on NYSE.
Yang said that a total of six Chinese enterprises have listed on NYSE so
far this year, a sharp increase from last year's four.
Xu Guangxun, chief representative of Nasdaq Stock Market Inc in China,
said 10 Chinese enterprises have gone public this year already, while
only nine did so in all of 2006.
In addition to the United States, some Chinese enterprises also selected
London as their listing place. According to Zhu Xiaojian, head of the
London Stock Exchange in Asian-Pacific region, 60 enterprises from the
Chinese mainland listed on the exchange and the number is expected to
exceed 100 by the end of this year.
Some Chinese companies also made their IPOs in Japan, South Korea and
Germany.
On March 30, Shandong Gongyou Group Joint Stock Co Ltd was successfully
listed on the Frankfurt Stock Exchange (FWB), which was the first IPO
carried out by Chinese company in Germany.
Asia Media Co. Ltd., a Chinese company specialized in providing media and
publishing related technology, went public on the Tokyo Stock Exchange in
April this year, making it the first Chinese company listed in the
country.
On June 1 this year, China's Huafeng Textile International Group, was
granted approval by the Korea Exchange to list its shares in Seoul.
(For more biz stories, please visit Industry Updates)
