BUSINESS China's "new third board" raises 24.74 bln yuan in January-November

BUSINESS

China's "new third board" raises 24.74 bln yuan in January-November

Xinhua

16:47, December 08, 2019

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BEIJING, Dec. 8 (Xinhua) -- China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board," raised 24.74 billion yuan (3.51 billion U.S. dollars) in the January-November period.

Qualified NEEQ investors stood at about 231,500 at the end of November, up 3.61 percent from that at the end of last year, data from the NEEQ showed.

A total of 233 new listed companies were added to the new third board in the past 11 months. By the end of November, there were 9,107 listed companies on the new third board with a total market value of 2.96 trillion yuan.

During the 11 months, 834 companies were delisted from the board due to cost-benefit ratio considerations. Another 348 were forced to be delisted for failing to disclose regular reports on schedule.

The exchange was launched in early 2013 to supplement the Shanghai and Shenzhen stock exchanges to serve small and medium-sized enterprises.

It is seen as an easier financing channel for small businesses, with low costs and simple listing procedures.

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