Others News
- State firms urged to list as a whole
Date: 9-Nov-2007 Sources: (Shenzhen Daily)
THE State assets regulator is encouraging State-owned firms to list as a single company, Xinhua reported Thursday, a departure from State firms' current practice of spinning off some of their assets.
State-owned Assets Supervision and Administration Commission Vice Chairman Li Wei said shares of State-owned firms must be transferred based on market prices, rather than on the net asset value of each share, according to the report.
Xinhua didn't say if Li was referring to State companies injecting assets into units or selling shares to investors.
Some State-owned firms have listed part of their assets, with the government keeping control of the parent companies.
Previously, State-owned firms sold shares at prices based on net asset value. Concerns have arisen that the government, in its attempts to attract investors in State firms, might have sold its assets too cheaply, especially as domestic share prices have been soaring.
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