China greenlights three sciQQtech innovation IPOs

Chinas securities regulator has approved the registration for the initial public offerings (IPOs) of three companies on the science and technology innovation board.

Zhejiang Ruisheng Intelligent Technology Co., Ltd., a manucturer of high-end digital intelligent equipment, VeriSilicon Microelectronics (Shanghai) Co., Ltd., a provider of platform-based custom silicon services, and Hangzhou Hua Guang Advanced Welding Materials Co., Ltd. will be listed on the Shanghai Stock Exchanges sci-tech innovation board, commonly known as the STAR market, according to the China Securities Regulatory Commission.

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.

File photo/Sun Jiaxia (NBD)

The companies and their underwriters will confirm the IPO dates and publish their prospectuses following discussions with the stock exchange.