China's new tech board may enlist around 150 firms within year: CICC

BEIJING, March 20 (Xinhua) -- About 150 firms will be listed on news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">news.cn/en/tag/i0xkfcd844efd48692805f/index.html" target="_blank">CHINA's news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">new science and technology innovation board in 2019, analysts with news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">news.cn/en/tag/i0xkfcd844efd48692805f/index.html" target="_blank">CHINA International Capital Corporation Limited (CICC) predict.

In 2019, a total of 50-100 billion yuan (7.45-14.9 billion U.S. dollars) of funds could be raised by the companies that have the luck to get listed on the news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">new board, according to CICC figures cited by Jrj Wednesday.

The news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">new board has set a threshold for both applicant companies and investors. For an applicant company, its market value should not be less than 1 billion yuan, while individual investors who want to participate in the news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">new board have to have assets of 500,000 yuan and at least two years of experience in securities trading, according to the news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">news.cn/en/tag/i0xkfcd844efd48692805f/index.html" target="_blank">CHINA Securities Regulatory Commission (CSRC).

Piloting a registration-based IPO system, the news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">new board focuses on companies in high-tech and strategically emerging sectors such as news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">new generation information technology, advanced equipment, news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">new materials and energy, environmental protection and biomedicine, according to the CSRC.

Under the pilot registration system, eligible companies can become listed by filing required documents. Currently, news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">new shares on A-share markets are subject to approval from the securities watchdog.

Launched on the Shanghai Stock Exchange, the Nasdaq-style technology board started to accept applications Monday.

So far, more than 30 companies have announced their decision to enter the news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">new board, including nine firms traded on news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">news.cn/en/tag/i0xkfcd844efd48692805f/index.html" target="_blank">CHINA's "third board" over-the-counter market, news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">news.cn/en/tag/i0xkfcd844efd48692805f/index.html" target="_blank">CHINA Securities news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">news reported Wednesday.

"Only a minority of companies listed on the 'third board' may be able to be listed on the news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">new tech board," said Wang Jiyao, a market observer.

news.cn/en/tag/i0xngaj3163f76200c981b/index.html" target="_blank">news.cn/en/tag/i0xkfcd844efd48692805f/index.html" target="_blank">CHINA designed the sci-tech innovation board in a bid to leverage financial reforms to boost the development of high-tech sectors and to advance economic transition.