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Chinese investors want relaxed rules for tech IPOs: exchange

Reuters  |  SHANGHAI 

(Reuters) - Most Chinese investors expect regulators to relax rules on initial public offerings (IPOs) by companies, and would like to invest in such domestic listings, the Stock Exchange said on Wednesday, citing a recent survey.

The exchange said its survey showed that nearly 90 percent of respondents said Shenzhen's start-up board ChiNext should strengthen its support to hi-tech firms.

Most investors are in favour of lowering financial threshold for their IPO, or accepting dual share classes, according to the survey.

The survey results, published on the exchange's website, fit with regulators' desire to bring home overseas-listed tech giants. Many of China's biggest tech companies, including Alibaba Group Holding Ltd, Baidu Inc, Inc, and Tencent Holdings Ltd, are listed offshore.

may allow its offshore-listed tech firms to sell a form of shares on the mainland, or depositary receipts (CDRs), people with knowledge of the plan told last week.

Such a plan, if implemented, would pit and against Hong Kong in the battle to host China's tech giants. [L4N1QN44E]

(Reporting by Samuel Shen and John Ruwitch; Editing by Richard Borsuk)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 14 2018. 15:45 IST