Debt agency Promisechina seeks third board listing

Promisechina (Shanghai) Investment Co Ltd, a debt collection agency, is hoping to list on the National Equities Exchange and Quotations, also known as the new third board - a strong indication of the growth in bad debt among the country's commercial banks.

The company's primary business is chasing credit-card debt and other bad loans on behalf of both banks and other finance providers, such as car loan firms.

Its services cover the full gamut of collection methods, from phone calls to debtors to arranging actual visits to people's homes.