City’s public companies surpass 200 
2020-07-08 Source:Hangzhou China

The city has had 201 public companies as of Jun 30, ranking the fourth in China following Beijing, Shanghai and Shenzhen, according to Hangzhou Financial Regulatory Office.

Hangzhou Kangji Medical Instrument Co Ltd, a surgical instrument maker for minimally invasive procedures, launched its IPO on the Hong Kong Stock Exchange on Jun 29. The city has helped 16 companies get regulatory approval for public listing in the first half of this year despite the impact of the coronavirus, compared to 13 in the first half of last year, and nine of them launched their IPOs.

Among the 16 companies, 15 are in the digital economy and manufacturing industries, and one in the property service sector. Shanghai Stock Exchange, Hong Kong Stock Exchange, the STAR Market, ChiNext, and Nasdaq respectively had six, four, three, two, and one listed.

When local companies launch IPOs in foreign markets, those that are already listed in foreign markets choose Hong Kong for the secondary listing. For example, NetEase launched a secondary listing in Hong Kong, and Ebang International offers its shares on Nasdaq despite the US regulatory headwinds.

Among the 16 companies, four are in Binjiang District, three in Yuhang, and three in Qiantang New District. Jiande broke the record of zero public companies last year and had two companies listed this year. Fuyang and Tonglu also broke the record of zero public companies this year.

The financial regulatory office said it will help more local companies to raise funds from the markets in the second half of this year.

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