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Shenzhen ChiNext GEM Offline Share Subscriptions Attract 217 Mutual Funds

Offline share subscriptions for the first 28 companies to list on Shenzhen’s Growth Enterprise Market attracted 217 mutual funds. An average of 34 funds participated in each stock listing on the so-called “ChiNext” market, according to data obtained by Caijing.

The biggest single investor was the ICBCCS Enhanced Income Bond Fund, run by ICBC Credit Suisse Asset Management Co., which bought stakes in 23 of the 28 companies.
Full article in Chinese:

» The GEM, which has been branded “ChiNext,” was officially launched Oct. 23, with the first batch of 28 listed companies to commence trading on Friday 30.10.2009

Source: Caijing, 29.10.2009

Filed under: Asia, China, Exchanges, News, , , , , , , , ,

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