ECLA Securities Team Holds “Experience Sharing Time” Focusing on NEEQ OTC

On August 15 the Securities Team of ECLA held an “Experience Sharing Time” activity focusing on the opportunities and difficulties of China’s NEEQ OTC market. Experts present included Senior Manager Wang Yang, and Li Juan in charge of the enterprise finance service of CITIC Securities. Also in attendance were  Gao Baoxu from Beijing Lang Ma Feng Venture Capital Co., Ltd, and Qiu Yuxia in charge of the finance and investment practice of ECLA.

The activity was presided over by lawyer Ding Xu, senior partner of the Securities Practice of DHH Law Firm. The participants discussed the recent major reforms and future trends of NEEQ OTC.

During the “Experience Sharing Time” Li Juan introduced the history, systematic limitations and future reform trends of China’s OTC, as well as the market maker rules, expansion timetable, requirements and challenges to enterprises to be listed in the OTC market. She suggested that enterprises should determine whether and when to apply for listing according to their actual conditions.

Manager Gao Baoxu, whose company Lang Ma Feng Venture Capital has invested in more than a dozen projects in the OTC markets, introduced the selection criteria for, post-investment management of and withdrawal from invested projects. According to him his OTC-specialized investment fund will invest in over 100 enterprises which are to be listed in OTC market.

There was an enthusiastic response to “Experience Sharing Time” \with lawyers from ECLA member firms and all Beijing DHH Law Firm’s Offices participating in the activity.