U.S. News

Mainland China Firm to Go Public in Tokyo


Another Chinese firm is set to list its shares in Japan, following the debut of online publisher Asia Media in April, amid increased efforts by the Tokyo bourse to attract foreign companies.

China Boqi Environmental Solutions Technology Co., a Beijing-based provider of environment conservation services, got approval from the Tokyo Stock Exchange to go public on Aug. 8 on either the first or second section of the bourse, according to a company filing released late on Wednesday. 

The Tokyo exchange is planning to open an office in Beijing to help attract Chinese firms, after many American and European companies have delisted their shares over the past decade as they saw little benefit from Tokyo's low trading levels.

Despite its ranking as the world's No. 2 stock exchange, the Tokyo bourse has lagged in attracting global companies and offering complex products. Its trading volume accounts for just 9 percent of the global total.

In April, Chinese TV program guide provider, Asia Media, went public on the Mothers market for start-ups. The stock price has more than doubled since its listing.

China Boqi would become the first mainland Chinese firm to join the main section of the Tokyo exchange.