Markets

Mainland IPOs not allowed for HK-listed startups

(Agencies)
Updated: 2011-02-15 10:35

SHANGHAI - Chinese companies listed on the startup board in Hong Kong must transfer to the main board before they can apply for a listing on the mainland's stock exchanges, the Reuters reported on Tuesday, citing Chinese media.

China's Nasdaq-style Chinext market was launched in 2009.

Many Chinese companies currently listed on the Growth Enterprise Market (GEM) in Hong Kong have planned to enter the yuan-denominated A-share markets on the mainland, the report said, citing the Chinese Securities Journal.

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However, the China Securities Regulatory Commission (CSRC) will not consider any listing application by these companies for the time being, the Securities Journal's report said, without giving the name of the source.

Currently, there are about 40 Chinese companies listed on the GEM market in Hong Kong, the report said.