5 Chinese companies move for Seoul float
Source: Xinhua |
November 11, 2009, Wednesday
|
Print Edition
Print Edition
FIVE Chinese firms want to list their shares on the South Korea's secondary stock market which had ample liquidity, the Seoul bourse operator said yesterday.
According to a statement by the Korea Exchange (KRX), China King-Highway Holdings Ltd, a maker of health supplements, applied to list its shares on the KOSDAQ market, which is mainly sought by technology companies.
The KRX said an additional four Chinese companies had recently applied for listing on the KOSDAQ market, with two of them, Global SM Tech Ltd and China Engine Group, having already received initial approval.
China King-Highway's application comes a day after New Pride Corp, a United States recycled-tire maker for container vehicles, filed for an application, becoming the first American firm to seek a listing on KOSDAQ.
According to the KRX, the foreign firms' interest in the secondary bourse can be attributed to its ample liquidity, enabling firms to raise funds relatively easily.
As of yesterday, five foreign companies were listed on the secondary market and three others on the main bourse.
According to a statement by the Korea Exchange (KRX), China King-Highway Holdings Ltd, a maker of health supplements, applied to list its shares on the KOSDAQ market, which is mainly sought by technology companies.
The KRX said an additional four Chinese companies had recently applied for listing on the KOSDAQ market, with two of them, Global SM Tech Ltd and China Engine Group, having already received initial approval.
China King-Highway's application comes a day after New Pride Corp, a United States recycled-tire maker for container vehicles, filed for an application, becoming the first American firm to seek a listing on KOSDAQ.
According to the KRX, the foreign firms' interest in the secondary bourse can be attributed to its ample liquidity, enabling firms to raise funds relatively easily.
As of yesterday, five foreign companies were listed on the secondary market and three others on the main bourse.
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