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Wan LixinOpinion deputy editor of Shanghai Daily
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Over 300 startups plan to list on GEM
By Winny Wang |
April 3, 2009, Friday
|
Print Edition
Print Edition
More than 300 startup companies plan to sell shares on the new Growth Enterprise Market, said a senior Shenzhen Stock Exchange official.
Brokerages are helping the management of the firms to be acquainted with procedures in applying for an initial public offering on the GEM and also to help them become aware of the risks, Zhou Ming, vice general manager of the Shenzhen bourse, was cited by the media yesterday.
The China Securities Regulatory Commission on Tuesday issued guidelines that pave the way for the launch of the GEM, which is styled on the Nasdaq stock market, for innovative startups. The Shenzhen-based GEM's emphasis will be on smaller, cash-strapped technology companies that show solid growth potential.
Yao Gang, vice chairman of the commission, said the regulator will issue a series of related rules after the guidelines take effect on May 1. It will then receive applications from candidate firms.
"It will require three months to review a company," Yao said. He hinted the GEM will be launched after August.
The guidelines highlight the supervisory functions of the GEM which has lower entry requirements than the two main boards on the Chinese mainland. The regulator will also tighten supervision over the GEM, including strict reviews, and will impose heavier penalties on violators.
Brokerages are helping the management of the firms to be acquainted with procedures in applying for an initial public offering on the GEM and also to help them become aware of the risks, Zhou Ming, vice general manager of the Shenzhen bourse, was cited by the media yesterday.
The China Securities Regulatory Commission on Tuesday issued guidelines that pave the way for the launch of the GEM, which is styled on the Nasdaq stock market, for innovative startups. The Shenzhen-based GEM's emphasis will be on smaller, cash-strapped technology companies that show solid growth potential.
Yao Gang, vice chairman of the commission, said the regulator will issue a series of related rules after the guidelines take effect on May 1. It will then receive applications from candidate firms.
"It will require three months to review a company," Yao said. He hinted the GEM will be launched after August.
The guidelines highlight the supervisory functions of the GEM which has lower entry requirements than the two main boards on the Chinese mainland. The regulator will also tighten supervision over the GEM, including strict reviews, and will impose heavier penalties on violators.
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