SHENZHEN North Jianshe Motorcycle, one of the next companies to list B shares, is considering a secondary listing overseas, possibly in Singapore.
Chairman Chen Zishen said yesterday, the company would formally report to the government about its plans for an overseas listing this year, after completing the Shenzhen flotation.
'Nothing has been settled yet,' he said.
'Where we go really will depend on which exchange accepts us, whether it is Singapore's, New York's or Hong Kong's.' Singapore was the prime candidate because China forbids B share firms from listing in Hong Kong, while New York does not have the requisite secondary support for Chinese companies to prosper.
China Merchant Shekou Port has already received approval to list its B shares in Singapore this year, and Gintian Industry (Group) is awaiting approval.
'I wouldn't be surprised if it [Shenzhen North] eventually listed in Singapore, but I don't think that will have much of an impact on its share price,' Elvic Ng, an analyst with Vickers Ballas, said.
'Like Chinese shares listed in New York, it won't be actively traded.' Shenzhen North's parent company, arms-maker China North Industries Group (Norinco), set up a direct investment fund which began trading in Singapore and Dublin last October.
