NEWS RELEASE
November 17, 1999
To mark the launch of the Growth Enterprise Market (GEM), the Stock Exchange of Hong Kong, together with the Taiwan Business Association (HK) Ltd and Taiwan Business Weekly Magazine, will hold a conference on capital formation for growth enterprises on December 3 at the Taipei International Convention Centre.
The conference aims to introduce the mechanism of GEM to Taiwan businesses, particularly technology and innovation based companies, so that these enterprises will have an additional channel to raise capital. Growth companies will be targeted for study at the conference and noted figures in the financial, academic, industrial and commercial fields in Hong Kong and Taiwan will share their experience.
Exchange chairman, Mr Lee Hon Chiu, chairman of the GEM Listing Committee, Dr K. S. Lo and Exchange chief executive, Mr Alec Tsui will speak at the function. Dr Lo will speak on GEM's development and prospects and Mr Tsui on the outlook of Hong Kong's securities market.
Mr Tsui said at the news conference: "GEM's mission is to give a focused branding to high growth and innovative companies in Mainland China, Hong Kong and Taiwan and help capital formation by these ventures. With easier listing requirements than the main board, GEM will come as welcome news to medium and small growth enterprises engaged in high-tech businesses."
The first batch of companies to list on GEM include a Hong Kong software company, a joint mainland-Hong Kong computer parts company, a Fujian chemical-industrial company and a pharmaceutical company.
Corporate Communications Department
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