Record number of firms to list overseas

By Shangguan Zhoudong (
Updated: 2007-06-12 14:16

A record number of Chinese enterprises are expected to list on overseas stock markets in 2007 as more and more domestic companies show their intentions to go public overseas.

"The number of Chinese companies listed overseas will see a record this year," said Yang Ge, the New York Stock Exchange's (NYSE) Asia-Pacific executive director.

In the past week, two Chines

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e solar energy enterprises, LDK Solar Co and Yingli Green Energy Holding Co Ltd, successfully made their initial public offerings (IPOs) on NYSE.

Yang said that a total of six Chinese enterprises have listed on NYSE so far this year, a sharp increase from last year's four.

Xu Guangxun, chief representative of Nasdaq Stock Market Inc in China, said 10 Chinese enterprises have gone public this year already, while only nine did so in all of 2006.

In addition to the United States, some Chinese enterprises also selected London as their listing place. According to Zhu Xiaojian, head of the London Stock Exchange in Asian-Pacific region, 60 enterprises from the Chinese mainland listed on the exchange and the number is expected to exceed 100 by the end of this year.

Some Chinese companies also made their IPOs in Japan, South Korea and Germany.

On March 30, Shandong Gongyou Group Joint Stock Co Ltd was successfully listed on the Frankfurt Stock Exchange (FWB), which was the first IPO carried out by Chinese company in Germany.

Asia Media Co. Ltd., a Chinese company specialized in providing media and publishing related technology, went public on the Tokyo Stock Exchange in April this year, making it the first Chinese company listed in the country.

On June 1 this year, China's Huafeng Textile International Group, was granted approval by the Korea Exchange to list its shares in Seoul.

(For more biz stories, please visit Industry Updates)