Over 1,200 small Chinese firms are now queuing up for share offers on the Shenzhen second board for small- and medium-size enterprises (SMEs), with 80-90% of them private firms, according to the China Securities Journal.
Citing sources with the Shenzhen bourse, the newspaper said a total of 32 firms have issued a combined 787 million shares on the second board to date, raising a combined 7.79 billion yuan (US$946m).
Of the 32 firms, 28 were private companies, with the remainder being state-owned.
The SME board was approved to launch in early June, after years of preparation, with the aim of broadening financing channels for SMEs.
SMEs have long been discriminated against by China's commercial banks, which favour lending to state-owned companies.
Source: Xinhua Finance
