China greenlights three IPOs on sci-tech innovation board

MRCM News / 2020-01-06 / Hits(468)

BEIJING - China's securities regulator has given the nod to the registration-based initial public offerings (IPOs) of three companies on the science and technology innovation board.

Zhejiang Orient Gene Biotech Co Ltd, Shenzhen Neoway Technology Co Ltd and Suzhou Zelgen Biopharmaceuticals Co Ltd will be listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, according to the China Securities Regulatory Commission.

It did not specify the total amount of funds to be raised.

The companies and their underwriters will confirm the IPO dates and publish their prospectuses following discussions with the stock exchange.

The STAR market, inaugurated in June and designed to support companies in the high-tech and strategic emerging sectors, eases the listing criteria but adopts higher requirements for information disclosure.

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