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Aya Lin · · 1 min readIn brief: Chinese bankers nervous as Shanghai launches own US-style tech board
- As Shanghai launches its Nasdaq-style tech board, complete with the country’s first registration-based IPO system, Chinese bankers are heading into uncharted waters: how to price and sell new shares, Reuters reports.
- “Selling IPO shares was easy before,” said an investment banker. “Now, you need to find interested investors and talk about the future of the company and the industry. It’s time-consuming and costly.”
- Scheduled to launch in June, the new Science and Technology Innovation board will remove government control of IPO quality and timing, as well as allow loss-making startups to list.
- Nearly 100 companies have submitted applications to list on the tech board.
Editing by Charmaine de Lazo
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