Sydney-based alternative trading venue, Asia Pacific Stock Exchange (APX), says that it is re-launching its platform with two Chinese companies proposing to list.
The companies are health products and dietary supplements manufacturer Samly, which plans to raise A$10 million, plus e-commerce logistics support company ZhongHuan Yun, which is aiming for A$6.6 million.
The exchange said it will give Chinese market participants an alternative listing and trading venue to the Shanghai and Shenzhen stock exchanges in China. APX is backed by Chinese businessman George Wang and is a wholly-owned subsidiary of an Australian company, AIMS Financial Services Group.
The two Chinese firms will be the first companies on the new APX when trading recommences, which is currently expected to be on 6 March 2014, subject to final approvals.
APX said at the end of last year it had received confirmation from the Australian Securities and Investments Commission that it had met the necessary conditions to re-commence operations. That included the approval of APX’s new market integrity rules and business rules by the Minister for Financial Services.