China greenlights seven IPOs on sci-tech innovation board

BEIJING - China's securities regulator has given the green light to the registration-based initial public offering (IPO) of seven companies on the science and technology innovation board.

Companies, including China National Electric Apparatus Research Institute Co Ltd, Shenzhen Lifotronic Technology Co Ltd and Jiangsu NOVORAY New Material Co Ltd, will be listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, the China Securities Regulatory Commission said in a statement.

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 and designed to focus on companies in the high-tech and strategic emerging sectors, eases the listing criteria but adopts higher requirements for information disclosure.