China's New Nasdaq Is Only Taking Profitable Firms for Now
- Technology board seen to be searching for quality listings
- Shanghai board to review three applications in June meeting
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China’s experiment with a new Nasdaq-style board is looking a lot less revolutionary than expected.
Even though regulators relaxed listing rules to allow loss-making companies to go public, the first batch of applicants to make it onto the new Shanghai technology board’s review list suggests not much has changed -- yet. Out of the 111 firms that got to the application stage as of Monday, all but one posted a profit last year. The listing of the outlier, Ninebot Ltd., is on hold.