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Listing hopefuls seek CSRC's seal of approval

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Christine Chan

Three companies have applied to the China Securities Regulatory Commission (CSRC) for permission to sell Shenzhen B shares.

Sources said the applications were made by Hubei Sanonda Co, Shandong Shouguang Paper Manufacturing and Nanjing Posts and Telecommunications Co.

All are among the 33 companies picked by Beijing for the latest round of B-share offers and listings.

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Promotion for the offers could start as early as the middle of this month if the vetting process went smoothly, the sources said.

In the first quarter, only one B-share offer was made, by Dalian-based Wafangdian Bearing Co, although a number of companies trying to capitalise on China's burgeoning economic recovery are queuing for similar listings.

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Among the three companies, Hubei Sanonda has A shares trading on the Shenzhen stock exchange.

China's biggest pesticide maker, Hubei Sanonda had planned to issue 100 million foreign currency B shares, representing about 36 per cent of the company's enlarged share capital.

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