Sci-tech innovation board to speed up A-share IPOs: PwC

BEIJING - China is expected to see about 200 initial public offerings (IPOs) in its A-shares market this year, with a large chunk predicted to happen in the new sci-tech innovation board, according to global auditing and consultancy PwC.

As of June 27, China's securities watchdog had handled applications from 141 companies for listing at the new board, and the whole year might see nearly 100 get the green light, according to PwC analysis.

The country's A-shares market saw 64 IPOs in the first half of this year, with a total of 60.4 billion yuan ($8.8 billion) raised. PwC predicted the 200 IPOs this year would collect an estimated sum of 180 billion yuan.

The sci-tech innovation board, inaugurated on June 13, is designed to focus on companies in the high-tech and strategic emerging sectors, such as new-generation information technology, advanced equipment, new materials, new energy, energy saving and environmental protection and biomedicine.

It will ease the listing criteria, such as allowing firms that have yet to make a profit to list, but they will adopt higher requirements for information disclosure.