(Yicai Global) May 7 -- Applications from would-be listers on Shanghai's upcoming Science and Technology Innovation Board have hit 100, 45 days since the bourse started the process.
Some 82 of the applicants have already made it through the first review and inquiry stage, according to data from the Shanghai Stock Exchange. The new board could launch as soon as next month.
The second round of reviews and inquiries have begun with over 30 firms responding so far.
Of the 100 applicants, 22 firms are registered in Beijing, followed by 18 from Jiangsu province, 15 from Shanghai and 13 from Guangdong. The other span 15 provinces including Zhejiang, Shandong and Shaanxi and include one red chip Ninebot, registered in the Cayman Islands.
The applicants span 19 fields with 23 firms from the computer, telecommunication and other electronic equipment manufacturing industries. 20 companies are from professional equipment manufacturing, 17 are from software and information technology services and 12 are from pharmaceuticals.
Close to the three-quarters of the potential listers aims to raise CNY1 billion (USD147.9 million) each, while 26 companies plan to raise CNY5 billion. China Railway Signal and Communication, a state-owned provider of railway communication technology, aims to raise CNY10.5 billion.
President Xi first announced plans for the board in November and it will run independently from Shanghai's main index and features with an experimental registration system. Its launch will boost the ability of China's domestic capital market to support scientific innovation and serve the real economy.
Editor: William Clegg