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Aya Lin · · 1 min readIn brief: China opens Nasdaq-style exchange for tech companies
- China has officially launched Shanghai’s Nasdaq-style tech board, with the country’s top securities regulator cautioning that the hotly anticipated Star Market will face various challenges initially, reported Reuters.
- So far, 120 companies have applied to list on the board. Star Market would be mainland China’s first exchange-run board that allows pre-profit firms to list.
- The exchange will also do away with guidance from regulators on IPO pricing and timing – developments that have some bankers and investors calling it China’s boldest market reform yet.
Editing by Eileen C. Ang
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