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The New 3rd Board: a boon to the Chinese OTC market

The New 3rd Board: a boon to the Chinese OTC mark...

Our View - Issue VIII, September 2015

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Our View

In this issue of “Our view” we delve into some of the issues regarding how Shanghai’s emerging ‘New 3rd Board’ has been affecting M&A. Points of note include:

  • a fundamental shift in China’s OTC capital markets and how small and mid-sized firms are availing of the various opportunities
  • how Shanghai’s New 3rd Board is emerging as an alternative listing option, creating new challenges for inbound M&A
  • the relatively high index levels being used as a benchmark by some China firms in deal negotiations in respect to valuations.

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