SMEs raise $8.76b from new third board

Small and medium-sized enterprises (SMEs) raised 60 billion yuan ($8.76 billion) on the country’s “new third board” last year, according to the National Equities Exchange and Quotations (NEEQ). The total number of companies traded on the board stood at 10,691 by the end of 2018, with aggregate capitalization at 3.45 trillion yuan, an NEEQ report said. Around 88.8 billion yuan of shares were transferred on the board last year. The value of preference shares offerings came in at 259 million yuan in total. The NEEQ saw asset restructuring 45 times, worth 4.67 billion yuan, and 226 mergers and acquisitions worth 36.46 billion yuan.