China's GEM board to vet IPO applications after adopting new registration system

2020-07-07
|
Lynn Lin

China's GEM board to vet IPO applications after adopting new registration system

As of July 2, Shenzhen Stock Exchange’s Growth Enterprise Market (GEM board) has accepted 168 IPO applications, 83 corporate refinancing applications and 3 major asset restructuring applications.


The 168 companies mainly come from the 39 industries classified by the China Securities Regulatory Commission (CSRC), with 23 from the industry of computer, communications and other electronic equipment manufacturing, 15 from specialized equipment manufacturing industry, 14 from software and information technology service industry, 11 from electrical machinery and equipment manufacturing industry, 9 from chemical raw materials and chemical product manufacturing industry, plus 8 specialized technology companies.


The above-mentioned enterprises have accounted for 50% of the total of the accepted companies.


In terms of registration domiciles, 40 companies come from Guangdong, 31 from Jiangsu and 23 from Zhejiang, the three provinces of which have the most innovation and entrepreneurial enterprises in China.


In terms of sponsors, China Securities Co has sponsored 16 enterprises, CITIC Securities 13, Haitong Securities 10, and Guojin Securities 9 enterprises.


According to relevant regulations, Shenzhen Stock Exchange's listing review agency will initiate the first round of inquiries through the sponsors within 20 working days, which is expected to be on July 10.



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