China greenlights two IPOs on sci-tech innovation board
File photo/Sun Jiaxia (NBD)
China's securities regulator has given the nod to the registration-based initial public offering (IPO) of two companies on the science and technology innovation board.
Hillstone Networks Co., Ltd., a provider of enterprise network security solutions, and Beijing Hotgen Biotech Co., Ltd. will be listed on Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, the China Securities Regulatory Commission said in a statement.
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 focus on companies in the high-tech and strategic emerging sectors, eases the listing criteria but adopts higher requirements for information disclosure.