Chinese investors want relaxed rules for tech IPOs: exchange

FILE PHOTO: An investor looks at an electronic screen at a brokerage house in Hangzhou, Zhejiang province, January 26, 2016.  REUTERS/China Daily

US-CHINA-INVESTORS-IPO:Chinese investors want relaxed rules for tech IPOs: exchange

SHANGHAI (Reuters) - Most Chinese investors expect regulators to relax rules on initial public offerings (IPOs) by technology companies, and would like to invest in such domestic listings, the Shenzhen Stock Exchange said on Wednesday, citing a recent survey.

The exchange said its survey showed that nearly 90 percent of respondents said Shenzhen's start-up board ChiNext <.CHINEXTP> should strengthen its support to hi-tech firms.

Most investors are in favor of lowering financial threshold for their IPO, or accepting dual share classes, according to the survey.

The survey results, published on the exchange's website, fit with regulators' desire to bring home overseas-listed tech giants. Many of China's biggest tech companies, including Alibaba Group Holding Ltd , Baidu Inc , JD.com Inc , and Tencent Holdings Ltd <0700.HK>, are listed offshore.

China may allow its offshore-listed tech firms to sell a form of shares on the mainland, or China depositary receipts (CDRs), people with knowledge of the plan told Reuters last week.

Such a plan, if implemented, would pit Shanghai and Shenzhen against Hong Kong in the battle to host China's tech giants.

(Reporting by Samuel Shen and John Ruwitch; Editing by Richard Borsuk)

Peaple also read these

Tesla's Musk offers to fix South Australia's...

Mar 10, 2017

US-AUSTRALIA-POWER-TESLA:Tesla's Musk offers to fix South Australia's power crisis in 100 days

South Australia taps new gas plant, batteries to...

Mar 14, 2017

US-AUSTRALIA-POWER-TESLA:South Australia taps new gas plant, batteries to fix power crisis

Philippine lawmakers postpone vote on embattled...

Mar 14, 2017

US-PHILIPPINES-MINING:Philippine lawmakers postpone vote on embattled resources minister

1 year to go: Gold Coast counts down to...

Apr 4, 2017

One of Australia's most popular tourist destinations is marking the one-year countdown to the...

Australian regulator sues Apple alleging iPhone...

Apr 6, 2017

US-APPLE-AUSTRALIA:Australian regulator sues Apple alleging iPhone 'bricking'

Sign up now!