China greenlights two sci-tech innovation IPOs

BEIJING -- China's securities regulator has approved the initial public offering (IPO) registration of two companies on the science and technology innovation board.

Shanghai Allist Pharmaceuticals Co Ltd and Hangzhou Toka Ink 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 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.