Technology firm Timeless Software and China Agrotech Holdings are both set for pioneer listings on the Growth Enterprise Market (GEM) on November 25. Mainland information-appliance maker Yuxing InfoTech Holdings is scheduled to commence GEM trading on December 8. Timeless Software would issue up to 150 million shares to raise between $345 million and $420 million, market sources said. The issue would be only through share placement and no public offering would be made, sources said. An analyst yesterday said Timeless may not think a public offering appropriate since the firm had yet to record a profit. Meanwhile, Yuxing InfoTech said it sought to raise $350 million to $420 million through its 100 million new shares issued on the GEM. In a presentation to fund managers and institutional investors yesterday, the company said its issue price was between 10 and 12 times forecast earnings for this year. This would be equivalent to between $3.50 and $4.20 per share. About $140 million of the proceeds of the issue would be used as working capital for development while $100 million would be used to acquire patented technology as well as expand its distribution and sales network, the company said.