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10 firms ready for IPO on China's NASDAQ
(chinadaily.com.cn)
Updated: 2009-09-21 15:54

Ten firms which have got the green light from the regulators to make an initial public offering on the Growth Enterprise Market (GEM), China's NASDAQ-style market, published their prospectuses Monday, Shanghai Securities News reported.

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After a series of procedures, they will be open for subscription on September 25 and the results of allotment will be published on September 30, according to the report.

The first 10 firms to make IPOs on the GEM belong to the sectors of software, medicine, ship design and bio-engineering. They plan to issue 246.7 million shares, which would make over 2.8 billion yuan ($410.08 million) combined.

China Securities Regulatory Commission approved 13 companies to be listed on the GEM last week.