China greenlights three sci-tech innovation IPOs

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

Zhejiang Power New Energy Co., Ltd., Nanjing CIGU Technology Corp., Ltd., and Hubei Wanrun New Energy 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 dates of the IPOs and publish prospectuses following discussions with the stock exchange.

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.