THE Shanghai Stock Exchange will start accepting listing applications for its new science and technology innovation board today, putting it on track for a first batch of listings as early as mid-June, Shanghai Securities News reported Saturday.

Yantai Raytron Technology Co., a Chinese developer of imaging and sensor technology, has already completed pre-listing tutoring from Citic Securities, while several other technology firms, including Venus Medtech (Hangzhou) Inc. and Xinguang Photoelectric Technology Co., are receiving tutoring from underwriters, according to regulatory filings.

The Shanghai bourse’s review process would take about three months, which means the first batch of applicants could debut on the technology board as early as mid-June, the paper said.

The science and technology board marks a radical shift from the current lengthy and cumbersome process for initial public offerings. The board’s registration-based listing procedure will reduce regulatory red tape and allow startups that have yet to turn a profit to list. (SD-Agencies)