GEM list applicants to be reviewed

The China Securities Regulatory Commission will this week review the first batch of companies that have applied for a listing on the Growth Enterprise Market. To make the process more transparent, the watchdog will publish the seven companies' IPO prospectuses on its website.

This software company is one of the seven IPO applicants. According to its report, it will issue more than 31 million shares and raise over 500 million yuan. It's estimated that the seven companies will raise a total of more than 2.2 billion yuan. The regulator says that, as of this past Thursday, it had received a total of 155 IPO applications to list on the NASDAQ style board. 149 were officially accepted. Most of the applications came from the non-public sector, backed by plans to raise nearly 34 billion yuan. The first batch of companies is expected to be listed as early as October.