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Sandy Li

About 60 Hainan businesses ranging from agricultural, pharmaceutical and hi-tech firms to those in tourism, water treatment and property development are seeking listings on the mainland or in Hong Kong, a provincial official said.
Wang Niansheng, an officer with the provincial government's finance department, said it was trying to help the companies comply with listing standards at the mainland and Hong Kong exchanges.  
Funds raised in the proposed listings will be used to finance projects in Hainan, he said.
There are now 22 Hainan-based listed companies. Of those, two are listed on the Hong Kong stock exchange while the rest trade on the mainland bourses, he said.
The two companies listed in Hong Kong are Melian Airport and China BlueChemical, which is the country's second-biggest maker of nitrogenous fertilisers.
 In the past six months, Hainan Strait Shipping and Hainan Honz Pharmaceutical both listed on the Shenzhen stock exchange, he said.
 Over the next five years, Wang said he expected Hainan to need total investments of more than one trillion yuan (HK$1.15 trillion) to develop the island into an international tourism destination by 2020.
Projects in the pipeline include the proposed Rail Express, which would shorten the travelling time from Haikou in the north to Sanya on the island's southern tip to 90 minutes from present three hours. 
Other developments include the Dongfang power plant phase one, a theme park and a convention and exhibition centre.
Lawrence Fok, chief marketing officer of Hong Kong Exchanges and Clearing, said companies from Russia, Mongolia and France had listed in Hong Kong.
Last year, companies raised a total of HK$240 billion through initial public offerings in Hong Kong, and a total of HK$390 billion was raised by already listed firms, he said.
Since 1993, Fok said mainland companies had raised about HK$250 billion through initial public offerings. 'Hainan companies can also make use of this platform to strengthen their size and expansion,' he said. 
But he said companies face the challenge of getting the right investment bankers to facilitate their listing plans.
 'I once heard from a mainland firm that complained it could not secure any investment bankers as its listing sponsor. But I told the firm it could be because its new shares were not likely to get good prices at that moment,' Fok said.



Hainan firms line up for listings to finance island projects