CHINA STAR MARKET WEEKLY:NEEQ’S SELECTED COUNTERS CAN APPLY FOR LISTING ON STAR MARKET OR GEM BOARD
Industry and Policy News
Tech companies set center stage on China’s IPOs
Within a month, JD Digits and Ant Group, two technology giants, have disclosed their plans list on the STAR Market, and a number of other leading sci-tech enterprises are joining the bandwagon. According to underwriters this is attributed by recent series of reforms by the SSE to make such listing easier and more flexible for institutional investors’ exit.
State Council to promote IC and software industry with capital access
The State Council strongly supports eligible integrated circuit and software enterprises to be listed on the stock exchanges that require access to capital market. It will accelerate the review process of listing in China; especially those seeking R&D. Those that meet the relevant conditions of the accounting standards for enterprises receive the priority.The readily offered platforms include SSE STAR Market and SZSE GEM board. With access to different tiers of capital market, it could provide not just equity financing but the transfer of shares for integrated circuit and software enterprises at different stages of development, and open to direct financing channels
Company Announcement
Aug 5 - Bonree Hongyuan Technology Development (688229) in the application performance management (APM) for IT management business has officially launched its IPO on STAR Market. It will be the first IPO in the domestic APM monitoring business. It plans to raise RMB 413 mln for the upgrading construction project for its applications and tracking and diagnosis products, the building of R&D center and to supplement working capital.