The selection layer of the New Third Board today set up the first batch of 32 companies collectively listed for trading
Today (27th) morning, the selection layer in the NEEQ was officially established and opened for trading.
The first batch of 32 companies collectively listed for trading
At the same time when the selection layer of the NEEQ opened for trading, the first batch of 32 companies that completed public offerings, including Yingtai Bio and Airong Software, were collectively listed on the selection layer. More than 80 of these 32 companies have become private small and medium-sized enterprises, with a total of 837 million shares issued, and the total amount of funds raised exceeds 9 billion yuan, with an average of nearly 300 million yuan per company. Starting today, companies that have been listed on the select floor for one year can apply for transfer to the Shanghai and Shenzhen Stock Exchange's Science and Technology Innovation Board or ChiNext for listing.
Fan Xiaoxin, Vice President of the National Association of Small and Medium Enterprises: (The NEEQ market plays a role in connecting the past and the next . It can support those SMEs that have the opportunity to enter the main board market. At the same time, it provides such convenience for small, medium and micro enterprises to enter the multi-layered capital market and incubate in such an open market.
As of July 17, a total of 70 listed companies have submitted application documents for public offering and listing on the select layer. There are more than 110 listed companies that have entered the public offering counselling process. In terms of investors, as of July 20, the number of investors in the basic, innovative, and selected layers of the New OTC Market were 567,200, 722,100, and 1.526 million, respectively.
For the first time, there will be no increase or decrease on the first day of continuous auction trading
The selected layer of the NEEQ established this time will implement a continuous bidding trading mechanism for the first time, and there will be no restrictions on the rise or fall of stocks on the first day of listing.
Different from the basic layer and the innovation layer, the stocks of the select layer implement continuous auction trading similar to the Shanghai and Shenzhen Stock Exchanges for the first time. Except for the first day, there is a 30% rise and fall for selected stocks throughout the day, and a 5% effective price range for declarations during the continuous auction period; a single minimum declaration quantity is 100 shares, and the integer multiple requirement is cancelled.
Selected stocks do not have a rise or fall on the first day of trading, but there is a temporary suspension mechanism for individual stocks. If the price of stocks in the intraday rises or falls by 30% or 60% from the opening price of the day, the stocks are temporarily suspended for 10 minutes.
Shu Cheng, executive director of the Internet Society of Economics and Management of Tsinghua University: For some special sub-sectors, it is difficult to enter the capital market in A-shares. It will choose to apply for a public offering on the selected layer of the New OTC.
It is understood that the thresholds for investors to enter the selection layer, innovation layer and basic layer of the New Third Board are 1 million yuan, 1.5 million yuan, and 2 million yuan respectively.
New OTC public fund investment ratio restrictions will be removed
In addition, a few days ago, the National Equities Exchange and Quotations stated that it would cancel the proportion of NEEQ public offering funds investing in selected NEEQ companies during the product closure period. Previously, it was stipulated that "the proportion of NEEQ funds invested in selected NEEQ companies during the product closure period should not exceed 20%, and the investment ratio during the open period should not exceed 15%."
In addition, fund companies can set up NEEQ public offering products based on the risk-return characteristics of selected stocks and reasonably set product risk ratings.