The Astonishing Mysteries Of China’s New Third Board

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.

WuXi PharmaTech Unit To Raise $80M In New Funding

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.