Tech IPOs Are Back: Star Market Records 22 New Applications Within One Week
The number of listing applications reached a peak in China.
From June 29 to July 5, the Exchanges disclosed that 73 companies filed for IPO. Among these, 40 applications came from the Shanghai Stock Exchange (SSE) with 18 on the main board and 22 on the Star Market (see our latest overview of the new tech board), 33 applications came from Shenzhen Stock Exchange with 15 on SME Board and 18 for ChiNext Board.
At the end of July 5, 334 companies in total filed for exchange listing in 2020 with a significant number of companies are focusing on the ChiNext and the Star Market. In the first half of the year, 46 companies, which is 38.6% of the total approved applications, are intending to launch Star Market, and 28 companies -- account for 23.5% -- are launching the ChiNext board.
SSE states that it will further increase the efficiency in assessing the applications on Star Market.