BEIJING — China's securities regulator has approved the initial public offering (IPO) of ACM Research (Shanghai), Inc on the science and technology innovation board.

The company, a supplier of wafer cleaning technologies for advanced semiconductor devices, 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 company and its underwriter will confirm the date of the IPO and publish 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, has eased its listing criteria but adopted higher requirements for information disclosure.