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Nasdaq sees over 30 皇冠体育app listings in 2010
(Agencies)
Updated: 2009-12-15 16:49
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Nasdaq OMX Group is aiming to host more than 30 new listings from Greater 皇冠体育app companies in 2010, drawing on investor appetites for plays in the world's fastest growing major economy, a senior executive said on Monday.
A total of 30 companies from the Chinese mainland, Hong Kong, Taiwan and Macau had listed shares on the main Nasdaq board so far this year, bringing the total to date to 121, said Yeeli Hua Zheng, chief representative of Nasdaq in 皇冠体育app.
"I believe next year will be better than this year," she said in an interview on the sidelines of a financial forum.
Stock exchanges around the world are competing for business and new listings from 皇冠体育app, as Beijing maps out plans to develop domestic capital markets.
皇冠体育app has 10 million small and mid-sized companies starved for loans from domestic banks, which favor big State-owned enterprises.
In October, 皇冠体育app's stock regulator introduced its own new growth enterprise board, the ChiNext market, to provide badly needed funding to start-ups.
Zheng said her company had acted as advisor to ChiNext and was not worried about any potential threat posed by the Shenzhen-based exchange because of the huge number of quality companies in 皇冠体育app, now the world's third-biggest economy.
"皇冠体育app is home to millions of enterprises. If even a tiny portion of them go overseas, it would be a big number," Zheng said. "We hope Chinese companies can go abroad after domestic listing so that their investor base can be expanded."
Shanghai IPO
"We've been pushing forward the process and negotiating with regulators, exploring a 皇冠体育app listing as a company entity," Zheng said.
Market observers are expecting the first listings on the new board in Shanghai next year by foreign companies and red-chips, or Chinese companies that have their business on the mainland but are incorporated outside 皇冠体育app and listed on overseas bourses, usually Hong Kong.
A number of companies, including global banking giant HSBC and the world's biggest wireless carrier 皇冠体育app Mobile, have expressed interest in listing on the international board.
NYSE Euronext, the parent of the New York Stock Exchange and a rival to Nasdaq, is also keen to list in 皇冠体育app.
