Saturday, January 20, 2018

Chinese broker set to list on Shenzhen SME board

One of China’s top brokers has announced its plan to list on the Shenzhen Stock Exchange’s board for small and medium enterprises (SMEs).

In a statement, Jiang Tai Insurance Brokers said it would float its shares on the board by next year.

It said it will submit its listing materials to the securities regulator in May of 2018.

If things go according to plan, it would get listed on the SME board of the exchange by H2 2018.

Jiang Tai expects to rake in Rmb900 million (US$136 million) in commission income this year.

If the listing goes successfully, the firm will be the second listed insurance broker in China after Mingya Insurance Brokers.

Mingya filed in July for a listing on the National Equities Exchange and Quotation or NEEQ, known as China’s “New Third Board.”

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