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China greenlights two IPOs on sci-tech innovation board

Xinhua News,BEIJING
2020-06-30 08:52

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BEIJING, June 30 (Xinhua) -- China's securities regulator has approved the registration for the initial public offerings (IPOs) of two companies on the science and technology innovation board.

Semiconductor Manufacturing International Corporation, China's largest integrated circuit foundry, and Anhui Earth-Panda Advance Magnetic Material Co., Ltd., a company focusing on rare-earth permanent magnetic materials, 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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