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China greenlights two IPOs on sci-tech innovation board

Updated: Jul 05,2020 10:39 AM    Xinhua

BEIJING — China's securities regulator has approved the registration for the initial public offerings (IPOs) of two companies on the science and technology innovation board.

Leaguer (Shenzhen) Microelectronics Corp, a company focusing on developing integrated circuit chips, and Wuxi Delinhai Environmental Technology Co Ltd, a company specializing in green treatment of algae, 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 two 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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