Article Abstract:
Power companies in China are seeking entry to the Hong Kong stock market, although many will delay entry because of uncertainty over financial stability in the region. China International Power is investing in restructuring and management to ensure listing in Hong Kong during 1998. Tianjin municipal government hopes to raise $129.2 million with its sale of Tianjin Development Company (TDC). TDC is forecast to increase its profits from $26 million to $31 million in 1998, a rise of 63%. Taiwanese underwriters are entering the securities markets, bringing competition to the market.
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Article Abstract:
The Chinese government seems determined to accumulate a large number of companies eligible for overseas listings, even though it has been necessary to delay flotations for which approval has already been granted. The State Economic and Trade Commission plans to put 150 state enterprises on the stock markets in the period to 2001. Shares of around 200 of the 500 large state-owned enterprises have already been offered to the public, and the money raised will be used to undertake further reforms.
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Article Abstract:
The government of China is planning to privatize many companies and allow them to become listed on stock exchanges for trading. However, this process is slowed by the fluctuating economy. Many mainland Chinese companies become listed on the Hong Kong stock exchange in order to raise money before listing on other exchanges.
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