The Shenzhen Stock Exchange is starting a "NASDAQ-like growth enterprise market" to help smaller companies raise capital. It plans on competing with NASDAQ, London AIM and other markets. First IPOs could be as early as May 2008. Details from WSJ plus possible IPO candidates and reference data from peers around the world below.
The Shenzhen exchange won't identify early listing candidates for the GEM. Analysts point to several companies operating from a high-technology industrial zone outside Beijing known as Z-Park, for Zhongguancun Science Park.
"We are surely to be in the first batch," said He Yuanping, a vice general manager of Beijing Origin Water Technology Co., which makes industrial sewage-treatment equipment. Mr. He, who is in charge of the GEM listing effort, said Origin Water has received a "positive message" about a listing from officials of the Shenzhen exchange and Z-Park management.
Another hopeful is two-year-old Beijing Techshino Technology Co., which develops fingerprint-, face- and eye-recognition systems. The company should qualify for a listing with annual revenue in the neighborhood of 40 million yuan and is overhauling its shareholding structure, said Zhou Jun, general manager.
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