Listed companies account for 1/5 of Zhejiang
- Details
- Category: Ningbo News
- Published: Tuesday, 20 August 2013 13:14
News from the Capital Market Development Seminar shows that, since 2003, Ningbo’s economy has maintained steady and moderately fast development in spite of the influences of the global financial crisis and the gloomy domestic economy.
Statistics shows that Ningbo has 55 listed companies at home and abroad, accounting for one fifth of Zhejiang, and ranked the second (after Shenzhen) among all the municipalities with independent planning status. To be specific, 42 were listed in foreign countries and 13 were in China, all together raising a fund of 60.5 billion yuan. Although the IPO has closed for nearly a year from the second half year of 2012 till now, companies have accelerated their paces for listing. Along with the development of the regional capital market, some 80 Ningbo companies have made full preparations for the listing and another 200 have expressed wills for listing and have been doing the preliminary work.
As to the merger and acquisition work, Ningbo’s listed companies were also very active at the encouragement of the government. It is learned that mergers and acquisitions have turned into effective ways to speed up enterprises’ development. Relative governmental departments have given many supports for this end. For example, the administration for industry and commerce opened a privileged channel for companies whose aim was to merge and reorganize and offered specialized services to them.
Officers of Ningbo’s finance office also indicated that the government was going to encourage listed companies to raise funds for the second time through varies ways, lowering the cost of the listed companies.
It is learned that listed companies were reluctant to raise a second time funds. Statistics shows, over the years, 23 companies raised funds for 38 times and the funds stood at 21.4 billion yuan, equaling to 60 percent of the IPO financing. Yet, just in the first half year of 2013, five companies initiated fund raising activities and have raised 1.86 billion yuan, 186 percent of the amount of 2012.
