On June 3, according to the website of the China Securities Regulatory Commission, the approval materials for the overseas initial public offering of shares of Shenzhen Hundred Orchard Development, or Pagoda, were received on June 1.
This shows that Pagoda has officially launched its listing and has chosen its destination overseas.
In April this year, Xianfeng Fruit, a competitor of Pagoda, has completed the first phase of the A-share listing counseling work. However, the A-share listing process mainly includes five stages, namely, restructuring, counseling, reporting, stock issuance and listing.
For Xianfeng Fruit, which has just entered the stage of listing counseling, there is obviously a long way to go.
Pagoda chose to go overseas for listing this time because of the short process and few procedures.
Pagoda is very likely to be the first fruit retailer in China before Xianfeng Fruit.