Ningbo to step up efforts to help companies go public

Ningbo in East China's Zhejiang province recently announced that it will strive to help an additional 15 companies go public or gain approval to make initial public offerings this year.

The scale of raised capital from IPOs and mergers and acquisitions in the city is targeted to surpass 250 million yuan ($38.46 million).

In addition, the local government has set the goal of keeping the number of candidates of listed company at above 300.

Currently, 127 enterprises in Ningbo have gone public at home and abroad. Among them, 108 made their debut at domestic bourses and have a combined market value of 1.41 trillion yuan, ranking seventh and ninth nationwide respectively.

Ten enterprises from the city made the 2021 list of China's top 500 listed enterprises released by market tracker Wind Info in January.

The value of listed companies was based on their closing prices on Dec 31.

Of the 10 Ningbo enterprises that were listed among the top 500, two are listed on the Hong Kong Stock Exchange, while the rest have gone public on A-share markets.

Three of them - Bank of Ningbo, Sunny Optical Technology (Group) Co Ltd and Shenzhou International Group Holdings Limited - made it to the top 100, ranking 59th, 72nd and 94th, respectively.