Markets
17:34, 18-Mar-2019
Chinese companies shift attention to the Science and Technology Innovation Board
Updated
13:58, 19-Mar-2019
["china"]
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The Shanghai Stock Exchange Monday officially began accepting online IPO applications for its science and technology innovation board. The plan has been greeted with enthusiasm. Some now listed on the New Third Board already have their applications ready to go.
There are plenty of other companies getting in line -- firms ranging involved in smart manufacturing, biomedicine, computer chips, and integrated circuits have all completed their pre-listing preparations.
Shanghai-listed medical equipment company Microport's subsidiary Microport Endovascular is one of the big forces. The company's Chairman Chang Zhaohua hope to join the first batch of companies to list on the science and technology innovation board to better expand the company's endovascular business.
Even some companies currently listed on the New Third Board are shifting their attention to the Science and Technology Innovation Board. It usually takes two months for a listed company to delist, but experts say the delisting procedure in this particular situation won't be slow.
“I think the listing procedure for New Third Board companies to become listed on the Science and Technology Innovation Board won't take too long, because they have very professionally done fiscal reports,” said Zheng Hong, chief investment consultant of LC Securities.
In addition to New Third Board companies, the Science and Technology Innovation Board is also attracting companies listed in Hong Kong. Shanghai Fudan Zhangjiang Bio Pharmaceutical has announced its dual listing plan to both the Hong Kong Stock Exchange and the Science and Technology Innovation Board.
“The Science and Technology Innovation Board are showing its inclusiveness. Not only New Third Board companies, but also companies listed in oversea markets can come back to join the board as long as they meet the basic requirements,” Zheng added.