Domestic start-ups raise .46b this year

Updated 2016-11-28 12:38:41 Global Times

A total of 2,229 domestic companies have raised more than 100 billion yuan (.46 billion) by issuing shares through China's National Equities Exchange and Quotations (NEEQ), the country's start-up board, as of Thursday this year, data from NEEQ showed.

Last week, 102 companies debuted on the NEEQ, bringing NEEQ-listed companies to 9,736 and total outstanding shares to 555.24 billion.

In the same week, turnover dropped 9.84 billion from the previous week to 4.44 billion yuan. The NEEQ component index slid 2.42 percent to 1,147.5 points, Xinhua reported Sunday.

The NEEQ, also known as the "new third board," was established in Beijing in 2012. It serves as a supplement to the main Shanghai and Shenzhen bourses.

Small and medium-sized companies tend to list on the new third board. In 2013, only 356 companies were listed on the board, but the figure soared to 1,572 in 2014. By the end of 2015, there were 5,129 companies listed on the bourse, with total outstanding shares of 295.95 billion.

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