Conditions for the transfer of the New Third Board:
1, companies listed on the New Third Board must meet the conditions for listing on the Stock Exchange. According to the listing rules revised by Shanghai and Shenzhen Stock Exchanges, the listing of the main board requires a capital stock of more than 50 million yuan, and the publicly issued shares account for 25% of the total shares of the company (if the capital stock exceeds 400 million yuan, the proportion is10%); Growth enterprise market requires a total share capital of not less than 30 million yuan and no less than 200 shareholders.
2. For the transfer problem, we need a reasonable mechanism and a set of standardized institutional arrangements.
3. Enterprises should not be too hasty in transferring from the New Third Board to the Growth Enterprise Market and the Main Board, but should gradually take measures to promote the continuous improvement of the New Third Board itself, thus creating conditions for the transfer.
4. If the companies listed on the New Third Board can be listed by directly transferring to the GEM and other sectors, then the management needs to guard against regulatory arbitrage in the process of transferring to the New Third Board.
Growth enterprise market, also known as the second board market, refers to the securities trading market outside the main board, which provides financing channels and growth space for small and medium-sized enterprises and emerging companies that are temporarily unable to go public. It is an effective supplement to the main board market and occupies an important position in the capital market.