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Tibet medicine company goes public

Xinhua | Updated: 2017-07-21 17:17

LHASA - A medicine company in southwest China's Tibet autonomous region went public Friday, bringing the region's number of listed companies to 15.

Weixinkang, which mainly researches, develops and produces pharmaceutical chemicals, was listed on the Shanghai Stock Exchange.

In November, the company filed an initial public offering (IPOs) application to China Securities Regulatory Commission, which vowed in September to help Tibet businesses expand through a multi-layer equity market with continued prior handling of IPOs. In 2016 alone, three companies in Tibet were approved to go public.

So far, the plateau region has 15 companies listed on the Shanghai Stock Exchange and the Hong Kong bourse. These companies cover diverse sectors including food, beverages, medicine, mining and construction.

Tibet's 14 listed companies reported a total of market value of 171.2 billion yuan ($25 billion) by the end of March this year.

Tibet had its first company listed in 1995.

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