In the process of listing the New Third Board, the first board market usually refers to the main board market (including small and medium-sized board), and the second board market refers to the Growth Enterprise Market. Compared with the first board market and the second board market, some insiders call the OTC market the third board market. The listing of the New Third Board is to let the New Third Board companies go public through brokers, thus having better development prospects. If you have any questions during the listing of the New Third Board, you can click on the account at the top right to view the details.
Listing conditions of the new third board
(1) The conditions for the establishment of the New Third Board for two years must be met.
(2) There must be a record of continuous operation and outstanding main business.
(3) There should be standardized operating conditions and perfect governance structure.
(4) New Third Board listing materials: the issuance and transfer of shares are legal and compliant;
(5) The registered address of the new third board listed company is in the pilot national high-tech park;
(6) The local government issued a letter of confirmation on the pilot qualification of listing the New Third Board.
Listing requirements of the new third board
The listing of the New Third Board needs to meet the following requirements:
1. First of all, the company to be listed must be a non-joint-stock company.
2. Must have stable and continuous operation ability.
3. No asset requirements
Zhongguancun high-tech enterprises will gradually expand the pilot scope to other countries' high-tech industrial development zones.
5. The main business should be highlighted.
Listing mode of new third board
(1) Financial support for companies listed on the New Third Board: According to different regional parks and government policies, enterprises can enjoy park and government subsidies.
(2) Convenient financing for companies listed on the New Third Board: After the company is listed, it can implement private placement of shares, improve the company's credit rating and help enterprises to raise funds faster.
(3) Wealth appreciation of companies listed on the New Third Board: the shares of enterprises and shareholders can be circulated at higher prices in the capital market to realize asset appreciation.
(4) Share transfer of companies listed on the New Third Board: Shareholders' shares can be legally transferred to improve the liquidity of shares.
(5) Listing of New Third Board listed companies: Once the transfer mechanism is determined, the company can enjoy the "green channel" first.
(6) Development of companies listed on the New Third Board: It is conducive to improving the company's capital structure and promoting the company's standardized development.
(7) The publicity effect of the companies listed on the New Third Board: establish the company brand and improve the company's popularity.
New Third Board Listing Process
1. To apply for the listing process of the New Third Board, you must first sign a recommendation listing agreement with the brokerage firm.
2. Meet the requirements for listing on the New Third Board. (Need to be introduced above)
3. New Third Board listed companies need to start the share reform process, and the limited company will be converted into a joint stock limited company based on the audited net asset value on the base date of share reform.
4. Sponsor brokers to conduct due diligence on companies to be listed on the New Third Board.
5. Sponsor brokers to set up core institutions to audit the companies listed on the New Third Board.
6. After the audit is completed, the sponsoring securities firm shall submit it to China Securities Association for audit.
7. After approval, the listing process of the New Third Board is completed.
Flowchart of listing of New Third Board
1. Confirm the listing first, and submit the listing application for the New Third Board.
2. Cooperate with brokers.
3. Submit the company restructuring plan to the securities firm.
4. Negotiate the price with the brokerage firm, and the sponsoring brokerage firm will quote according to the corresponding company.
5. Securities companies conduct audits, including company qualification audits and listing conditions audits.
6. The brokerage firm will submit it to the China Securities Association for review.
7. After the approval, the listing is completed.
Experience of listing the new third board
After the listing of the New Third Board and good cooperation with brokers, the review of brokers was very cumbersome, which delayed all kinds of troubles. I thought it would be okay to submit it to the broker, but the result was the beginning of trouble. It is suggested to find an agency to do it, which will not cost a lot of money and save a lot of time, mainly to save trouble.