The Shanghai exchange’s Star Market is aimed at creating a new fundraising platform for mainland Chinese companies operating in fields such as chip making and biotechnology. Photo: Xinhua

Shanghai Stock Exchange to debut Nasdaq-style market for tech stocks on July 22, three weeks ahead of schedule

  • Twenty-five companies to start trading on the board the same day
  • Debuting stock expected to draw a buying frenzy
Topic |   IPO

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The Shanghai exchange’s Star Market is aimed at creating a new fundraising platform for mainland Chinese companies operating in fields such as chip making and biotechnology. Photo: Xinhua
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Chinese technology firms have come under pressure from the US, increasing Beijing’s urgency to launch the new fundraising platform to support domestic innovation. Photo: Bloomberg

First tech company gets green light to price its IPO before trading debut of Shanghai’s new STAR Market, as analysts predict buying frenzy

  • IPOs are likely to be heavily oversubscribed as investors vie to back promising young firms due to list on the new tech board, analysts said
  • Suzhou HYC Technology said it would begin price consultation with institutions for its IPO, expected to raise 1 billion yuan (US$144.9 million)
Topic |   China technology

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Chinese technology firms have come under pressure from the US, increasing Beijing’s urgency to launch the new fundraising platform to support domestic innovation. Photo: Bloomberg
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