Vinegar beverage maker Tiandi No 1, a newly listed company on the New Third Board, is planning to raise 625 million yuan ($98 million) by issuing an additional 25 million shares to 35 new investors at 25 yuan [~US$3.94] a share. Prior to this, the company had 410 million shares in circulation at the National Equities Exchange and Quotations, China’s over-the-counter market, also known as the New Third Board. Consequent to the new issue, the total market value of the Guangdong-based company will reach 10.875 billion yuan…Full Article: ECNS.cn Oct 2015
- On 20 August 2015, Tiandi No 1 was listed on the New Third Board and primarily used the resulting funds (CNY 175 million or ~US$27.5 million) to develop its online-to-offline business (i.e. online to brick-and-mortar).
- The president of Tiandi No 1, a major apple vinegar producer, founded the company in Guangzhou. He also owns No 1 Original Pig and Guangdong Tiandi Food Co Ltd.
- In August 2015, a Beijing steamed bun shop (Qing-Feng Steamed Dumpling Shop) announced plans to list the company on the New Third Board. In 2015, Qing-Feng operated 300 restaurants, including 262 located in and around Beijing. The company hopes to have 1,000 restaurants (80% franchised) by 2020.
- Established in 2012, The New Third Board, also known as The National Equities Exchange and Quotations, is a pilot trading platform for unlisted small/medium-sized Chinese companies. As of mid-2015, approximately 2,000 small to medium sized companies were listed on the platform.