HYC kicks off IPO proceedings on new STAR technology board

Investors' enthusiasm for technology companies was focused on the STAR Market at the Shanghai Stock Exchange on Thursday, as HYC Technology, which was the first company to start its initial public offering at the new tech board, started its online subscription.

The online and offline subscription for the Suzhou-based manufacturer of automatic detection equipment for industrial equipment was available on Thursday.

HYC Technology said in an announcement released on Tuesday that the company's issue price is set at 24.26 yuan ($3.53) per share. About 7.6 million shares were available for online subscription. An individual investor could subscribe to a maximum of 7,500 shares.