Growth Enterprises to Be Listed in May
China will soon announce the names of companies will be listed on the
newly created Growth Enterprise Board stock exchange in Shenzhen in
May, China Business News reports. The listing will offer a platform for
companies from specific potential
high-growth sectors, including technology start-ups. It is expected
that the board will include 30 to 50 companies. Enterprises will be
required to have a minimum capitalisation of RMB20m.
Three New Mutual Funds Approved
The CITIC Prudential Fund Management Co, Fullgoal Fund Management and
Wanjia Asset Management have all received approval from China's
securities regulator. The new funds will invest in stocks and bonds
byraising RMB30 bn, New York-based International Business Times
reports. The Chinese government already approved three funds in
February that will add RMB100 bn to the stock market.
Baird Private Equity Invests in China
Chicago-based Baird Private Equity said it will set up an investment
team in Shanghai to identify potential ventures. The company will
invest in Chinese companies that have pre-tax profits of USD3-5m and
have "meaningful growth potential," Chicago Business News said quoting
the company's Principal Brett Tucker. The first deal is expected to be
completed before June. Baird already has five funds in the United
States, UK and Germany with a total investment of USD1.1 bn.
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