-
Important news
-
News
-
Shenzhen
-
China
-
World
-
Opinion
-
Sports
-
Kaleidoscope
-
Photo Highlights
-
Business
-
Markets
-
Business/Markets
-
World Economy
-
Speak Shenzhen
-
Leisure Highlights
-
Culture
-
Travel
-
Entertainment
-
Digital Paper
-
In depth
-
Weekend
-
Lifestyle
-
Diversions
-
Movies
-
Hotels
-
Special Report
-
Yes Teens
-
News Picks
-
Tech and Science
-
Glamour
-
Campus
-
Budding Writers
-
Fun
-
Futian Today
-
Advertorial
-
CHTF Special
-
FOCUS
-
Guide
-
Nanshan
-
Hit Bravo
-
People
-
Person of the week
-
Majors Forum
-
Shopping
-
Investment
-
Tech and Vogue
-
Junior Journalist Program
-
Currency Focus
-
Food Drink
-
Restaurants
-
Yearend Review
-
QINGDAO TODAY
在线翻译:
szdaily -> Business/Markets -> 
Nine set prices for IPOs on tech board
    2019-07-10  08:53    Shenzhen Daily

NINE Chinese companies, among the first to list on China’s Nasdaq-style tech board, announced prices of their new share offer yesterday, as investors braced for a busy week for initial public offerings (IPOs).

China’s securities regulator has given the go-ahead for 25 companies to list on Shanghai’s technology and innovation board, the STAR Market, and the first batch of companies will start trading July 22.

Four tech board companies have already completed their offerings, while 21 firms are taking subscriptions from investors this week.

Nine companies, including China Railway Signal & Communications Corp. (CRSC), Advanced Micro-Fabrication Equipment Inc. (AMEC) and Ningbo Ronbay New Energy Technology Co. disclosed their IPO price via exchange statements yesterday, and will take subscriptions from investors today.

Valuations, measured by earning multiples, vary.

Semiconductor firm AMEC priced its new offering at 29.01 yuan (US$3.6) per share, or 170.8 times its 2018 earnings, excluding extraordinary items.

In contrast, China Railway Signal & Communication priced its offering at 5.85 yuan per share, or 18.18 times its 2018 earnings, the lowest multiples of the nine firms.

The STAR Market was officially launched by the China Securities Regulatory Commission on June 13. At that point, Huang Hongyuan, chairman of the Shanghai exchange, said a first batch of companies would start trading on the new market within two months.

Styled after the Nasdaq Stock Market, China’s new tech board is seen as key to keeping the next Alibaba Group Holding Ltd. or Xiaomi Corp. from choosing New York to go public.

It’s also a testing ground for a potential new IPO regime: regulators have waived restrictions on how firms are priced when they list, allowed dual-class listings, and offered a more streamlined vetting process.

China must use the tech board to drive reform in the nation’s capital market, Vice Premier Liu He told regulators and global finance professionals at a forum in Shanghai on June 13, urging transparent laws and regulations for the trading venue.

More than 100 companies have applied to launch IPOs on the tech board, according to official data.(SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn