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Ten Chinese growth firms set to take IPO orders
Published on: 2009-09-21
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SHANGHAI — Ten small- and medium-sized companies slated to list on China's planned Nasdaq-style board said Monday they would accept subscriptions for their initial public offerings at the end of the week.
The 10 firms, ranging from medical equipment makers to software developers, said they would launch road shows for their share offerings on Monday, according to statements filed with the Shenzhen Stock Exchange.
The 10 companies are among 13 that have so far received approval from the China Securities Regulatory Commission to list on the second board.
The agency will hold meetings this week to audit applications by 11 additional companies, the official China Securities Journal reported Monday.
Regulators hope the long-anticipated new board, to be called ChiNext, will help fuel the development of start-ups and other companies with high growth potential in the world's third largest economy, in the way that Wall Street's Nasdaq has.
No launch date has officially been set for the market, which will be based in the southern boomtown of Shenzhen in Guangdong province.
State media has reported that the first batch of companies would debut after the week-long National Day holiday, which ends on October 8.
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