BEIJING, May 24 (Xinhua) — China’s securities regulator has given the nod to the registration of initial public offerings (IPOs) of two companies on the science and technology innovation board.
Essence Information Technology Co., Ltd., a Tianjin-based information tech firm and Suzhou Jinhong Gas Co., Ltd., a Jiangsu-based gas manufacturer, 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 respectively confirm the IPO dates and publish the 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 the listing criteria but adopts higher requirements for information disclosure. Enditem