Published News » Stocks

Alibaba.com, a leading business-to-business website of the Chinese Internet giant Alibaba Group, was delisted from the Hong Kong Stock Exchange Wednesday.
CHINEXT, China's Nasdaq-style board in Shenzhen, will allow delisting of companies from May 1, the China Securities Regulatory Commission said yesterday.

The Shenzhen Stock Exchange also said in a statement that companies on the ChiNext will be delisted if they receive three criticisms from the exchange in the recent three years, or if their share prices fall below their par value for 20 conse
The Nasdaq China Index, which tracks major Chinese stocks trading in the US high-tech stock market, has dropped nearly 20 percent in fewer than 40 days, from 3.45 on May 2 to 6.83 on June 10. Moreover, the price of Chinese stocks, including Sino-Forest Corp and Yongye International Inc, has plunged more than 50 percent.
YANZHOU Coal Mining Co, China's fourth-largest producer, may raise more than A$1 billion (US$1.1 billion) in an initial public offering for at least a third of its Australian unit by the end of the year.

The company...
China's regulators may allow 10 foreign and overseas-listed Chinese companies to sell shares in Shanghai under a trial program after two years of preparation, the 21st Century Business Herald reported, citing a draft plan.

Companies seeking to list on Shanghai's so-called international board should achieve a market capitalization of more than 30 billion yuan ($4.6 billion) and have a combined
Bluestar Adisseo Nutrition Group, the French animal-nutrition company backed by China National Chemical Corp (ChemChina), is seeking HK$12.08 billion ($1.56 billion) in a Hong Kong initial public offering, according to a term sheet sent to investors.

Bluestar Adisseo is offering 2.3 billion shares, or 25 percent of the company, at HK$3.50 to HK$5.25.

Pricing the stock at the top end of the
CHINEXT, China's version of Nasdaq, is put to the test this month when a quarter of the outstanding shares of listed firms on the market become tradable.

It is very likely that shareholders, which include venture capital investors, private-equity firms and senior company executives, of the listed start-up companies will sell their holdings after lock-up restrictions expire, analysts said.

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Domestic automaker BYD has filed an application for a public listing on Shenzhen's A-share market and plans to complete the offering by the end of 2010, Wang Chuanfu, chairman of the board, said at the company's mid-year performance news conference in Hong Kong.

The company earned 2.42 billion yuan in the first half of this year, a 100 percent increase over same period in 2009.

Wang Chuanfu

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