After IPO,10 Companies Waiting for Listing on Second Board

Ten Chinese companies who have finished their initial public offering procedures are now waiting for listing on China's Nasdaq-style second board.

It is yet for the regulator to decide the day for the official listing, but insiders say this could happen as soon as next week. Liu Yan has more.

According to the Shenzhen Stock Exchange, the second board, or the Growth Enterprise Market, will finish technical preparations by Friday and possibly undergo the final operation system check on Saturday. Insiders say if things go smoothly, the official listing of the ten new start-ups could happen by next week.

Beijing Toread, an outdoor activity equipment producer, is one of the companies. Fan Yongjian, secretary of the Board of Toread, said the company is ready for the listing.

"Through the IPO, we raised 336 million yuan or some 49 million US dollars. All the money has been remitted to the company's account. This marked an end to our IPO procedures. Our stocks were welcomed quite well by the market."

Insiders say the small- and medium-sized enterprises to be listed on the second board are from the high-tech industry and highlight innovation. The listing is expected to help attract more financing from the public.

Meanwhile, all ten companies are planning to use the raised money to improve their marketing networks and conduct research and development projects.

Chi Yanming is the board chairman with Beijing Lanxum Technology Co, a provider of office information system services.

"We will use the funds we raised to set up 19 branches across the country, with an aim to perfect our marketing and service platform, and we will invest more in research and development."

The 10 start-ups come from the fields of new energy, logistics, bio- engineering technology, software, medical equipment and medicines.

The second batch of companies seeking to be listed on the second board will open subscriptions for their initial public?offerings next Tuesday.

Liu Yan, CRI news.