China greenlights one IPO on sci-tech innovation board

Source: Xinhua | 2020-05-10

China's securities regulator has given the nod to the registration of initial public offering (IPO) of one more company on the science and technology innovation board.

Hunan Sokan New Materials Co. Ltd, a new functional coating material manufacturer, will be listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, the China Securities Regulatory Commission said Saturday.

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

The company and its underwriter will confirm the IPO date and publish the prospectus 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 the listing criteria but adopts higher requirements for information disclosure.