GUANGZHOU yesterday quietly began its week-long sale of application forms for shares in the city's four major enterprises, determined to avoid a repetition of the Shenzhen fiasco last year.
The first four days are reserved for group buyers, with potential investors able to purchase application forms through their work units or residents' associations.
Individual buyers will then be allowed to buy forms, from September 26 and September 28, at 445 sales points in bank offices and other financial institutions.
Last August, more than one million would-be investors flocked to the Shenzhen special economic zone to fight for share lottery tickets at 100 yuan each.
In addition to the four Guangzhou-based firms, five enterprises in other parts of Guangdong province are issuing stocks.
Analysts said the high offering price and unlimited supply of application forms, costing two yuan each, has had a cooling effect on investors.
