Shenzhen-listed firms report shrinking M&As in 2018

BEIJING - Listed companies on the Shenzhen Stock Exchange reported falling mergers and acquisitions (M&As) last year, according to the bourse.

A total of 110 M&As worth 239.599 billion yuan ($35.34 billion) were made by Shenzhen-listed companies last year, down by 40.86 percent and 63 percent year-on-year respectively, the bourse said Sunday.

Most of the M&As highlighted the tendency to serve the real economy despite drops in the number and sum of deals, the bourse pointed out.

The bourse's boards serving small- and medium-sized enterprises and high-tech firms reported 11 overseas major assets reorganizations worth 57.804 billion yuan last year, increasing from those in 2017.

Firms listed on the Shanghai Stock Exchange reported increases on M&A number and sum last year.