Exits could shrink Hong Kong's start-up board

The biggest companies on the Global Enterprise Market (GEM), Hong Kong's second board have either applied or have plans to apply for listings on the SAR's main board. The companies are Hong Kong satellite station Phoenix TV, internet and media companies Tom.com and Hong Kong.com and biotech firm CK Life Sciences. Taken together, their exit would shrink GEM's capitalization by more than a third, and turnover by a fifth.