China greenlights two IPOs on sci-tech innovation board

BEIJING -- China's securities regulator has given the nod to the registration of initial public offerings (IPOs) of two companies on the science and technology innovation board.

Linkage Software Co Ltd, a Jiangsu-based financial software solutions provider, and Jiangsu Jibeier Pharmaceutical Co Ltd, a high-tech company focusing on the pharmaceuticals research and development, will be listed on the Shanghai Stock Exchange's sci-tech innovation board, also known as the STAR market, according to the China Securities Regulatory Commission.

It did not specify the total amount of funds to be raised.

The companies and their underwriters will confirm the IPO date and publish the prospectus 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 the listing criteria but adopts higher requirements for information disclosure.