China greenlights two IPOs on sci-tech innovation board
File photo/Sun Jiaxia (NBD)
China's securities regulator has approved the registration for the initial public offerings (IPOs) of two companies on the science and technology innovation board.
Jiangsu Aidea Pharmaceutical Co., Ltd. and data intelligence solution provider HCR 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.
The commission, however, did not specify the total amount of funds to be raised.
The two companies and their underwriters will confirm the IPO dates and publish their prospectuses following discussions with the stock exchange.
The STAR market, which was inaugurated in June last year, was designed to support companies in the high-tech and emerging sectors. It aims to ease listing criteria but adopts higher requirements for information disclosure.