Chinese contract research and development services provider for the pharmaceutical industry WuXi PharmaTech (Cayman) Inc. says its small-molecule drugs manufacturing subsidiary is in the process to raise RMB499 (US$80 million) from 33 unnamed Chinese institutional investors, according to a company announcement. The unit, SynTheAll Pharmaceutical Co. Ltd., has agreed to issue 7.16 million new common shares, or around 6% of its current total shares outstanding, to the investor group in a private placement deal.
Cura Investment Management (Shanghai) Co., Ltd., a Chinese private real estate investment firm, has completed initial public offering on China’s New Third Board, or the National Equities Exchange and Quotations (NEEQ).
Legend Capital, the venture capital arm of Legend Holdings, has applied to list on China’s National Equities Exchange and Quotation (NEEQ), or the New Third Board, according to a regulatory filing.
It was a year of explosion for China’s New Third Board, officially named the National Equities Exchange and Quotations (NEEQ), in 2015. A total of 5,129 companies with combined market capitalization of RMB2.46 trillion (US$374 billion) were listed on China’ New Third Board as of the end of 2015, up 3.26 times and 4.35 times from 2014, respectively, says China’s Xinhua News Agency.
Fifty-six companies left China’s New Third Board, an over-the-counter market designed for China’s small-to-medium size enterprises, in 2016 as continued low liquidity hurt listed companies’ abilities to raise capital and fuel their growth.