Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Domestic IPO resumes after nine-month freeze
By Leo Zhang |
20:26 UTC+8 June 18, 2009
|
Online Edition
Online Edition
GUILIN Sanjin Pharmaceutical Co will launch the first initial public offering on Chinese mainland in nine months as the regulator has eventually lifted the ban after the sagging stock market recovered.
The traditional Chinese medicine maker today received the approval from the China Securities Regulatory Commission for the new stock sale in Shenzhen, investment banking sources told Shanghai Daily.
Sanjin is expected to start a preliminary price consultation with investors next week and may finally list its shares late this month or early next month, said the sources familiar with the matter.
"Sanjin is a small-size firm and its listing won't likely cause big pressure on liquidity or cause the index to plunge," said Xu Wenyu, a China Galaxy Securities Co trader. "The company can fetch a good valuation as people will definitely chase the first IPO after waiting for such a long time."
The CSRC halted domestic IPOs in September after the Shanghai Composite Index slumped nearly 60 percent in the first nine months of last year on worries more equity supplies may lead the market to collapse.
The benchmark stock barometer has gained more than a third since the suspension started partly thanks to the government's fiscal stimulus package, which is on track to help the country's economy step onto a recovery path.
The traditional Chinese medicine maker today received the approval from the China Securities Regulatory Commission for the new stock sale in Shenzhen, investment banking sources told Shanghai Daily.
Sanjin is expected to start a preliminary price consultation with investors next week and may finally list its shares late this month or early next month, said the sources familiar with the matter.
"Sanjin is a small-size firm and its listing won't likely cause big pressure on liquidity or cause the index to plunge," said Xu Wenyu, a China Galaxy Securities Co trader. "The company can fetch a good valuation as people will definitely chase the first IPO after waiting for such a long time."
The CSRC halted domestic IPOs in September after the Shanghai Composite Index slumped nearly 60 percent in the first nine months of last year on worries more equity supplies may lead the market to collapse.
The benchmark stock barometer has gained more than a third since the suspension started partly thanks to the government's fiscal stimulus package, which is on track to help the country's economy step onto a recovery path.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
