Nasdaq Lands at Shanghai

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Last updated at: (Beijing Time) Thursday, September 26, 2002

Nasdaq Lands at Shanghai

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While Nasdaq dejectedly declared withdrawal from Japan, it quietly set up a representative office in Shanghai days ago. Though still under construction, the representative office has already started its consulting business focusing on the mainland's hi-tech enterprises hoping to get listed overseas.

As small may be, the representative office boasts a complete range of facilities, including small conference rooms, office rooms, communication equipment. Preparations for constructing this office were started at the end of last year, soon afterwards related personnel and facilities entered Shanghai in succession. The Shanghai office with some procedures left transacted is reported to be the only one that Nasdaq has set up in the mainland

At present members of the office mainly work to provide consulting service for the mainland's hi-tech enterprises to go public. They give guidance on how to get listed on Nasdaq, including employing the lawyer office, the accountant office and the investment bank, as well as filing written application to the China Securities Regulatory Commission (CSRC) and the US counterpart. With their help, some enterprises have successfully gotten listed on the Nasdaq stock exchange. Furthermore, the representative office holds irregular training courses for personnel from the CSRC and Shanghai Stock Exchange. All these services are free of charge.

Before Nasdaq landed at Shanghai, those mainland's hi-tech enterprises who harbor the impulse to go public overseas had to apply to the US Securities Regulatory Commission by their own. However, quite a few enterprises failed for want of knowledge of the game rules. Abibula noted many hi-tech enterprises enjoy pretty favorable conditions to go public and bear huge development potentials, especially those in the Jiangsu and Zhejiang provinces. So this representative office is devoted to shortening the journey to the overseas stock exchange for these enterprises.

By PD Online Staff Zhu Lizhen

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