The China Securities Regulatory Commission (CSRC) orally suspended private equity (PE) firms from listing on the New Third Board in late December 2015. On 27 May 2016, the National Equities Exchange and Quotations (NEEQ) released the Notice on the Listing and Financing of Financial Institutions, which set eight additional requirements for PE firms to list on the New Third Board.
Managing Partner
Hengdu Law Firm
This means that the NEEQ resumes its role of approving qualified PE firms to list on the New Third Board, which had been suspended for half a year. However, the additional eight listing requirements are so demanding that it is difficult for existing private institutions to meet all of them. This article will analyze some of these listing requirements.
LISTING REQUIREMENT I
At least 80% of the total income must come from the management fee and other performance payments.
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Jiang Fengtao is the managing partner with Hengdu Law Firm
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