Private enterprises in Zhejiang province, especially small and mid-sized enterprises (SMEs), are speeding up their migration to listed status, said Ernst &Young (E&Y), a leading global tax and transaction service provider.
According to data released by E&Y on Thursday, there are 252 Zhejiang-based listed companies that have raised more than 160 billion yuan ($24.8 billion) on the capital markets as of July 10.
Thirty percent of those companies held an initial public offering (IPO) during 2010 and the first half of this year, and the pace of listings is likely to be sustained or even accelerate for the rest of this year.
"There is always a strong desire among Zhejiang's entrepreneurs to have their companies listed on the stock market," Terence Ho, greater China IPO leader, assurance of E&Y told China Daily.
"But with the relaxation of government regulations (for SMEs' listings), the number has increased dramatically in recent years, which, in return, encourages more and more SMEs to join the trend," Ho said.
Among Zhejiang's 252 listed companies, 205 went public in the domestic market, 44 were listed overseas and three sought dual listings.
The Shenzhen exchange was the first choice among these enterprises, having attracted 132 IPOs, with 99 on the SME board.
According to data released by E&Y on Thursday, there are 252 Zhejiang-based listed companies that have raised more than 160 billion yuan ($24.8 billion) on the capital markets as of July 10.
Thirty percent of those companies held an initial public offering (IPO) during 2010 and the first half of this year, and the pace of listings is likely to be sustained or even accelerate for the rest of this year.
"There is always a strong desire among Zhejiang's entrepreneurs to have their companies listed on the stock market," Terence Ho, greater China IPO leader, assurance of E&Y told China Daily.
"But with the relaxation of government regulations (for SMEs' listings), the number has increased dramatically in recent years, which, in return, encourages more and more SMEs to join the trend," Ho said.
Among Zhejiang's 252 listed companies, 205 went public in the domestic market, 44 were listed overseas and three sought dual listings.
The Shenzhen exchange was the first choice among these enterprises, having attracted 132 IPOs, with 99 on the SME board.
