The Main Problems And Countermeasures Of The GEM IPO Pricing

Since October2009when China launched the GEM (Growth Enterprise Market), how to decidethe IPO price of the GEM listed companies has been a controversial issue. The issue price of manyGEM stocks is much higher than the closing price when stock is listed on the GEM for the first day.This phenomenon reflects there are many problems in the IPO pricing in Chinese GEM market. Inorder to improve the IPO pricing mechanism of Chinese Growth Enterprise Market, it is necessaryto study the problems in the current IPO pricing in Chinese GEM market, and give some practicalpolicy recommendations about these issues.Throughout there are still many other problems in Chinese GEM market, because of spacelimitations, this article only study the GEM market pricing efficiency and study how to reflect thegrowth of the companies listed on GEM...