ASX becomes more popular for Chinese company IPOs

Chambers & Company
Pierre Lau and Ben Lin
[email protected]; [email protected]

The Australian Stock Exchange (ASX) has become a more popular and viable destination for IPOs by Chinese companies in recent years. The ASX published a Chinese version of its listing guidelines in 2008, and at least five China-based or China-backed companies have listed in Australia so far in 2009. They include home textiles retailer Thomas Bryson International and automatic mah-jong table manufacturer Treyo Leisure and Entertainment. The latest such listing took place on July 30 2009 for Shenhua International, raising just over A$14 million (US$11.7 million) in the IPO, and more Chinese companies are in the pipeline to list.