EGC Corporate Governance Practices (May 2018)

EGC Corporate Governance Practices: A Survey and Related Resources PAGE 31 Industries Of the 168 EGCs, based on SIC codes, approximately 24.6% were pharmaceutical companies, approximately 10.7% were software companies, approximately 7.4% were biological products companies, and 27.9% were “blank check” companies. Figure 45 : N=168. Foreign Private Issuers The largest percentage of FPI EGCs, or 50.0%, were companies incorporated in the Cayman Islands. Based on the sample surveyed, 13 of the 23 Cayman Islands issuers were based in China. The next largest percentages were incorporated in the British Virgin Islands (approximately 17.4%), Canada (approximately 6.5%), the United Kingdom (approximately 6.5%), and The Netherlands (approximately 4.3%). Figure 46 : N=168. 30 34 13 9 3 4 5 70 Industries by SIC Code Pharmaceuticals "Blank Check" Companies Software Biological Products Surgical & Medical Instruments/Apparatus State Commercial Banks Computer Programming/Data Processing Other Cayman Islands, 23 British Virgin Islands, 8 Canada, 3 United Kingdom, 3 The Netherlands, 2 Other, 7 FPI Country of Incorporation (By Frequency) Cayman Islands British Virgin Islands Canada United Kingdom The Netherlands Other