108 comp chaussure shox anies file papers with GEB

108 comp chaussure shox anies file papers with GEB
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108 companies file papers with GEBPublished: 26 Jul 2009 16:02:01 PST

By Zhao Qian

The application period for companies interested in being listed in a planned Growth Enterprise Board (GEB) began yesterday and 108 companies expressed interest in the Nasdaq-style second board.

Applicants lined up inside the hall of the China Securities Regulatory Commission (CSRC) early to file their papers but the office didn’t open until 9 am.

“Lots of applicants waited there when it was just 8 am,” a CSRC worker told the Global Times yesterday.

The number of applicants and the companies accepted to the board will be disclosed in about five days, an official from the CSRC said.

As part of the procedure, applicants must submit three years of financial data together with other related documents, according to CSRC.

A company may be qualified for the board during the first round if it accumulated at least 30 million yuan ($4.39 million) in net profit in the past two consecutive years.

This is twice the original requirement released by CSRC in June, according to Xinhua news agency.

And the number of sponsors for these companies to be listed on this board was 38.

Wang Lixiang of Merchant Securities said that they sponsored 12 companies and most are based in Guangdong Province, Beijing and Northeast China. The board will be based in Shenzhen.

Lepu Medical Technology (Beijing) and Jiangxi Hengda High-Tech were among the applicants.

China first started preparing to launch the GEB 10 years ago. And the interim regulations on the long-awaited GEB were released May 1 while supporting regulations and standards came later.

The small- and medium-sized companies must achieve fast growth and speed up innovation, CSRC officials said.

“The small- and medium-sized companies choose to list on GEB because the companies have limited ways to finance,” said Wang Min of China Renaissance Capital Investment. “But we should not expect too much on that.”

Chen Xiaomin also contributed to the story

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