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Huayi Brothers gets GEM IPO approval

(chinadaily.com.cn)
Updated: 2009-09-28 16:10

Huayi Brothers Media Corporation and other two more firms received approvals to be listed on the Growth Enterprises Market (GEM), China’s NASDQA-style market, from the China Securities Regulatory Commission yesterday, ifeng.com reported.

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The eye-catching Huayi Brothers, with a registered capital of 126 million yuan ($18.45 million), plans to issue 42 million of its shares, raising 620 million yuan. Its shareholders include many film stars and celebrities, who are set to obtain great benefits from the IPO.

The other two companies winning GEM IPO approvals are Tianjin Chase Sun Pharmaceutical Co Ltd and Huaxing Chuangye - a Hangzhou-based telecommunication company.