China greenlights two IPOs on sci-tech innovation board

Source: Xinhua | 2020-01-12

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

Shenzhen-based Autel Intelligent Technology Corp., Ltd. and Guangzhou Risong Technology Holding 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 2019 and designed to support companies in the high-tech and strategic emerging sectors, eases the listing criteria but adopts higher requirements for information disclosure.