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10 firms ready for IPO on China's NASDAQ

(chinadaily.com.cn)
Updated: 2009-09-21 15:54

Ten firms which have got the green light from the regulators to make an initial public offering on the Growth Enterprise Market (GEM), China's NASDAQ-style market, published their prospectuses Monday, Shanghai Securities News reported.

Related readings:  China new companies market to begin IPOs  Chinese firms rush to jump on IPO bandwagon  MCC's IPO thinned by weak demand  China CNR gets greenlight for its IPO  China sets up IPO review committee for Growth Enterprise Market  Little IPO spring left in GEM board, say analysts

After a series of procedures, they will be open for subscription on September 25 and the results of allotment will be published on September 30, according to the report.

The first 10 firms to make IPOs on the GEM belong to the sectors of software, medicine, ship design and bio-engineering. They plan to issue 246.7 million shares, which would make over 2.8 billion yuan ($410.08 million) combined.

China Securities Regulatory Commission approved 13 companies to be listed on the GEM last week.