China greenlights three sci-tech innovation IPOs

Xinhua
12 Jul 2020, 16:00 GMT+10

BEIJING, July 12 (Xinhua) -- China's securities regulator has approved the registration for the initial public offerings (IPOs) of three companies on the science and technology innovation board.

Qingdao GaoCe Technology Co., Ltd., a manufacturer of cutting equipment for hard and brittle materials, Beijing Succeeder Technology Inc., a high-tech company focusing on thrombosis and hemostasis in the in-vitro diagnosis area, and Chengdu M&S Electronics Technology Co., Ltd, a satellite navigation and communication terminal manufacturer, 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.

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 last year and designed to support companies in the high-tech and strategic emerging sectors, eases listing criteria but adopts higher requirements for information disclosure.

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