Jul. 30, 2009 (China Knowledge) - Beijing-based computer services provider Join-Cheer Software Co Ltd today announced that it has obtained regulators' approval to launch an IPO on the small- and medium-sized enterprise board on the Shenzhen Stock Exchange, sources reported.

Join-Cheer Software will issue 15.3 million shares on the SZSE, accounting for 25.07% of the firm's total capital after the issuance. The company will raise RMB 413.1 million from the IPO based on the issuing price set at RMB 27 per share.

A road show will begin in Shanghai on Friday and later in Shenzhen and Beijing, and the share subscription will start the same day.

The proceeds from the issuance will be used to finance the management information systems as well as intellectualized commercial software.

Shenyin & Wanguo Securities Co Ltd has been assigned as the major underwriter for the sale.