China greenlights two sci-tech innovation IPOs

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

Guobo Electronics Co Ltd and Shenzhen Bluetrum Technology Co Ltd will be listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, according to the China Securities Regulatory Commission.

The companies should strictly follow the prospectus as well as the issuance and underwriting plan while issuing stocks, the regulator said.

The STAR market, inaugurated in June 2019 and designed to support companies in the high-tech and strategic emerging sectors, has eased its listing criteria but adopted higher requirements for information disclosure.