Guilin Sanjin Pharmaceuticals Co. will conduct the nation's first initial public offering (IPO) after a nine-month hiatus, the China Securities Regulatory Commission (CSRC) said on June 18,2009.
The Guilin-based pharmaceuticals company will issue 46 million A-shares to raise 634.13 million yuan (93.25 million U.S. dollars)for 10 projects, according to a prospectus filed with the regulator on June 23, 2008. The company is expected to list on the Shenzhen Stock Exchange before July.
Other candidates for the first IPO included China State Construction Engineering Corp., Zhejiang Wanma Cable Co. and Shenzhen Salubris Pharmaceuticals Co..
Analyst said letting smaller IPOs proceed first reflected regulators' concerns about excessive stock supply.
According to the prospectus, the company's net profit was 127.53 million yuan for 2008 and 194.80 million yuan for 2007.
The CSRC halted IPOs in September, when shares were down 60 percent year to date. At that point, 37 companies had gained the approval of the regulator.
Chinese shares rose to a 10-month high on June 18,2009 as investor confidence received a boost, with the World Bank raising its forecast for China's economic growth in 2009.
Source:Xinhua
2 comments:
Good sign of things to come. I hope
The pains are sometimes reflected as something very badly; this is a warning of some ailment which we pruned to suffer. Sometimes we feel a pain in the waist and one in one of the kidneys which we can worry about. These pains are deceptive and sometimes the importance is not relevant. For this reason it is recommendable to get a physical control to recognize the ailment that causes the pain and power and to fight its origin.
The pain in the waist, that can be acute or long lasting can return as chronic and is know to medics as lumbar pain. This is a disease that strikes millions of people throughout the world; findrxonline and said that according to statistics 70% of people who have suffered at some point in their life.
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