China’s new high-tech board says it will focus on companies’ technological innovation capabilities when reviewing listing applications.
The Shanghai Stock Exchange (SSE), which hosts the so-called Science and Technology Innovation Board, revealed on Friday the first group of companies that have filed listing applications. As of Wednesday, the stock exchange has accepted applications from 17 companies and is now vetting them.
The SSE will review the listings based on their science and technology relevance, their financial situation and whether they meet the listing criteria for the high-tech board, the exchange said in a statement released Wednesday.
The exchange must decide whether to approve a listing within three months of agreeing to vet an application, excluding the time it takes for applicants and their listing service providers to answer queries from the bourse, according to the regulations governing the board.