China greenlights two sci-tech innovation IPOs

BEIJING, June 19 (Xinhua) -- China's securities regulator has approved the initial public offerings (IPOs) of two companies on the science and technology innovation board.

Nexchip Semiconductor Corporation and Shenzhen China Micro Semicon 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 companies should strictly follow the prospectus as well as the issuance and underwriting plan while issuing stocks, the regulator said.

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.