Jiangsu Tongxi to apply for debut on “New Third Board”

July 31: According to a statement released on the official website of China’s National Equities Exchange and Quotations (NEEQ), Jiangsu Tongxi Basketball Club has submitted an application to be listed on the New Third Board. The New Third Board was officially launched in early 2013 to supplement both the Shanghai and Shenzhen stock exchanges in serving small and medium-sized enterprises. 

This application is partly based on an investment from Chinese financial services organization Far East Horizon who purchased 10% shares in Jiangsu Tongxi Basketball Club on March 28, 2017. If the application is approved, Jiangsu Tongxi will become the first ever NEEQ-listed club in the Chinese Basketball Association (CBA).

Established in 2007, Jiangsu Tongxi Basketball Club is a professional club based in Nanjing, China. They made their debut in the second-tier league, the Men's National Basketball League (NBL), in 2008 and won the championships in 2010 and 2011. In 2014, Jiangsu Tongxi joined the first tier CBA league.  

Source: Sina 

Proofread by Raymond Fitzpatrick