Banks eye boon in underwriting for tech startups

Chinese investment banks are seeking new opportunities in their underwriting business for companies' initial public offerings as the regulator is expected to loosen IPO rules to allow more technology startups to raise funds in the stock market.

Several securities firms have said that they have been actively storing new projects in their IPO pipeline and they have made technology-related IPO underwriting a main business focus.

"We have been closely following the policy change and the new market trend," said Guangfa Securities Co Ltd in a written response to China Daily.