Nasdaq plans China office to woo more IPOs

By George Chen

SHANGHAI, May 15 (Reuters) - Nasdaq Stock Market Inc. (NDAQ.O: Quote, Profile, Research, Stock Buzz) said it is considering setting up an office in China as the technology-savvy U.S. bourse seeks to list more Chinese firms.

Nasdaq is currently in talks with the China Securities Regulatory Commission (CSRC) to set up a representative office, probably in Beijing, Eric Landheer, head of Asia Pacific for Nasdaq, told Reuters on Tuesday.

"China is our most promising market at least in the near term," he said in an interview on the sidelines of a forum in Shanghai.

In the first quarter of this year alone, seven Chinese companies have gone public on Nasdaq, said Landheer, who took up his current London-based job in March.

Late last month, Beijing said it had drafted rules for foreign stock exchanges to establish representative offices in China, the world's fastest-growing major economy.

The CSRC, China's top stock market watchdog, is now seeking feedback from Nasdaq, where about 3,200 companies are listed, for the rules, Landheer said.

He declined to say when the desired Beijing office would be set up but said he expected a slew of Chinese listings.